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

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price was down 1.3% during 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 changed hands 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 the company’s 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 completion of the transaction, the chief technology officer now owns 11,706 shares in the company, valued at $507,572.16. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HOOD shares. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.29.

Robinhood Markets Stock Performance

The business has a fifty day moving average of $49.22 and a two-hundred day moving average of $37.61. The firm has a market capitalization of $42.29 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in Robinhood Markets during the third 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 acquiring an additional 550 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at $34,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.