Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $7,838,154.72 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Steven M. Quirk sold 92,257 shares of Robinhood Markets stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the completion of the transaction, the insider now owns 136,364 shares in the company, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $1.49 during trading on Friday, hitting $83.03. The company's stock had a trading volume of 36,890,636 shares, compared to its average volume of 28,040,109. The company has a market capitalization of $73.52 billion, a PE ratio of 65.52, a PEG ratio of 4.99 and a beta of 2.25. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $85.55. The stock's 50-day moving average price is $63.01 and its two-hundred day moving average price is $51.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business's revenue for the quarter was up 50.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC grew its holdings in Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after acquiring an additional 171 shares in the last quarter. Cigna Investments Inc. New grew its stake in Robinhood Markets by 2.7% in the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after purchasing an additional 174 shares in the last quarter. Hemington Wealth Management increased its holdings in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after buying an additional 218 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after buying an additional 233 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after buying an additional 265 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on HOOD. Morgan Stanley boosted 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, May 13th. Barclays reduced their price objective on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Redburn Atlantic reissued a "sell" rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. KeyCorp cut their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.29.

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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