Steven M. Quirk Sells 24,311 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Steven M. Quirk sold 24,311 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $54.93, for a total value of $1,335,403.23. Following the completion of the sale, the insider now directly owns 299,349 shares of the company's stock, valued at approximately $16,443,240.57. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Robinhood Markets Stock Up 1.8%

Shares of NASDAQ:HOOD traded up $1.08 during trading on Friday, hitting $61.76. The stock had a trading volume of 23,851,695 shares, compared to its average volume of 26,289,986. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The company has a market capitalization of $54.69 billion, a PE ratio of 39.34, a PEG ratio of 1.05 and a beta of 2.15. The firm's fifty day moving average is $45.27 and its 200 day moving average is $43.65.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business's quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

HOOD has been the subject of a number of recent research reports. Mizuho boosted their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. KeyCorp lowered their price target on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler upped their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Morgan Stanley upped their price target on Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $55.41.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC grew its stake in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter worth approximately $26,000. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets in the 1st quarter worth approximately $30,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of Robinhood Markets in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.