Robinhood Markets (NASDAQ:HOOD) Stock Price Down 6.5% on Insider Selling

by · The Markets Daily

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) was down 6.5% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $54.76 and last traded at $55.39. Approximately 13,242,623 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 24,568,754 shares. The stock had previously closed at $59.23.

Specifically, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the sale, the insider now directly owns 706,642 shares in the company, valued at approximately $42,942,634.34. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This trade represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HOOD shares. Piper Sandler increased their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Citigroup raised their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley raised their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Read Our Latest Research Report on Robinhood Markets

Robinhood Markets Price Performance

The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13. The firm has a fifty day moving average of $47.42 and a 200 day moving average of $33.80.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Trading of Robinhood Markets

Institutional investors have recently bought and sold shares of the business. New Wave Wealth Advisors LLC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $26,000. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. Eastern Bank acquired a new stake in Robinhood Markets in the third quarter valued at approximately $30,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the third quarter valued at approximately $30,000. Finally, CoreCap Advisors LLC grew its holdings in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

About Robinhood Markets

(Get Free Report)

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.

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