Insider Selling: Robinhood Markets (NASDAQ:HOOD) CTO Sells 5,865 Shares of Stock

Key Points

• Robinhood's CTO, Jeffrey Tsvi Pinner, sold 5,865 shares of stock on September 5th for approximately $585,502.95, reducing his ownership by nearly 20%.
• Shares of Robinhood Markets experienced a price increase, trading at $118.50 with a market capitalization of $105.31 billion.
• Recent analyst ratings show a range of targets for Robinhood, with prices being adjusted between $48.00 to $120.00, reflecting a variety of investor sentiments on the stock.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $99.83, for a total transaction of $585,502.95. Following the transaction, the chief technology officer directly owned 23,680 shares of the company's stock, valued at approximately $2,363,974.40. This trade represents a 19.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Jeffrey Tsvi Pinner also recently made the following trade(s):

• On Friday, July 25th, Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock. The shares were sold at an average price of $104.73, for a total transaction of $614,136.72.
• On Monday, July 7th, Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock. The shares were sold at an average price of $93.51, for a total transaction of $548,342.64.
• On Friday, June 20th, Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock. The shares were sold at an average price of $77.82, for a total transaction of $456,336.48.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded up $1.22 during midday trading on Tuesday, hitting $118.50. The company's stock had a trading volume of 50,792,093 shares, compared to its average volume of 38,547,044. The business's fifty day simple moving average is $104.71 and its two-hundred day simple moving average is $72.20. Robinhood Markets, Inc. has a 1 year low of $18.83 and a 1 year high of $118.70. The firm has a market capitalization of $105.31 billion, a price-to-earnings ratio of 60.15, a price-to-earnings-growth ratio of 4.30 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter last year, the firm posted $0.21 earnings per share. The business's revenue for the quarter was up 45.0% compared to the same quarter last year. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on HOOD. Piper Sandler raised their target price on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Needham & Company LLC raised their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $100.31.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Robinhood Markets by 11.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 44,296 shares of the company's stock worth $1,650,000 after buying an additional 4,556 shares during the last quarter. Comerica Bank raised its stake in shares of Robinhood Markets by 167.3% during the 4th quarter. Comerica Bank now owns 11,894 shares of the company's stock worth $443,000 after buying an additional 7,444 shares during the last quarter. Baird Financial Group Inc. acquired a new position in shares of Robinhood Markets during the 4th quarter worth $305,000. Captrust Financial Advisors raised its stake in shares of Robinhood Markets by 142.0% during the 4th quarter. Captrust Financial Advisors now owns 45,846 shares of the company's stock worth $1,708,000 after buying an additional 26,904 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Robinhood Markets by 183.8% during the 4th quarter. Cetera Investment Advisers now owns 103,551 shares of the company's stock worth $3,858,000 after buying an additional 67,061 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other 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.

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