Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells 123,272 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the transaction, the insider now directly owns 298,826 shares of the company’s stock, valued at approximately $16,674,490.80. This trade represents a 29.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robinhood Markets Price Performance

Shares of HOOD stock traded down $4.01 during trading hours on Tuesday, hitting $45.92. The company had a trading volume of 59,374,124 shares, compared to its average volume of 26,903,646. The company’s fifty day moving average is $47.55 and its 200 day moving average is $34.26. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The stock has a market capitalization of $40.59 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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 net margin of 47.81% and a return on equity of 13.53%. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $26,000. HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Robinhood Markets in the 3rd quarter worth approximately $30,000. CoreCap Advisors LLC increased its stake in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after buying an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research reports. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Piper Sandler boosted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, KeyCorp boosted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Company Profile

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.