Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.3% After Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) dropped 1.3% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $47.42 and last traded at $47.75. Approximately 19,267,221 shares were traded during trading, a decline of 9% from the average daily volume of 21,210,096 shares. The stock had previously closed at $48.36.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $43.36, for a total value of $253,786.08. Following the transaction, the chief technology officer now directly owns 11,706 shares of the company’s stock, valued at $507,572.16. This trade represents a 33.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

A number of research analysts have issued reports on HOOD shares. Mizuho lifted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Needham & Company LLC upped their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Cantor Fitzgerald began coverage on Robinhood Markets in a research report on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Robinhood Markets Stock Performance

The stock has a market capitalization of $42.29 billion, a P/E ratio of 30.45, a PEG ratio of 1.05 and a beta of 2.14. The business has a fifty day simple moving average of $49.22 and a 200-day simple moving average of $37.61.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its stake in Robinhood Markets by 31.1% in the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after acquiring an additional 16,219 shares during the period. IFP Advisors Inc raised its stake in shares of Robinhood Markets by 601.1% in the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock valued at $164,000 after buying an additional 3,769 shares during the period. Everence Capital Management Inc. purchased a new stake in Robinhood Markets during the fourth quarter valued at about $634,000. Charles Schwab Investment Management Inc. boosted its holdings in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after buying an additional 138,267 shares during the period. Finally, Atomi Financial Group Inc. raised its stake in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares during the period. 93.27% of the stock is owned by institutional investors.

About Robinhood Markets

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.