Robinhood Markets (NASDAQ:HOOD) Stock Price Down 11.2% Following Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) fell 11.2% during trading on Friday after an insider sold shares in the company. The company traded as low as $31.59 and last traded at $33.96. 29,745,994 shares were traded during trading, an increase of 33% from the average session volume of 22,383,298 shares. The stock had previously closed at $38.26.

Specifically, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research reports. KeyCorp raised their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Cantor Fitzgerald began coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They set an “overweight” rating and a $69.00 price objective for the company. Mizuho increased their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $60.24.

Robinhood Markets Price Performance

The business’s 50-day moving average price is $48.49 and its two-hundred day moving average price is $38.62. The firm has a market cap of $30.50 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share 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 predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $26,000. CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC bought a new stake in Robinhood Markets during the fourth quarter valued at $34,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after purchasing an additional 498 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.