Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Steven M. Quirk Sells 104,887 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the sale, the insider now directly owns 228,621 shares in the company, valued at $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Robinhood Markets Price Performance

HOOD traded up $0.24 during trading on Thursday, hitting $72.51. The company had a trading volume of 64,629,147 shares, compared to its average volume of 26,841,031. The business has a 50-day moving average of $51.92 and a 200-day moving average of $47.11. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $76.72. The company has a market cap of $64.20 billion, a PE ratio of 46.19, a P/E/G ratio of 1.05 and a beta of 2.25.

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

Analyst Upgrades and Downgrades

HOOD has been the topic of several analyst reports. Barclays lowered their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Cantor Fitzgerald decreased their price objective on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.41.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently bought and sold shares of HOOD. Cim LLC boosted its position in shares of Robinhood Markets by 49.8% during the 1st quarter. Cim LLC now owns 81,911 shares of the company's stock valued at $3,409,000 after purchasing an additional 27,230 shares in the last quarter. Silicon Valley Capital Partners increased its stake in Robinhood Markets by 50.0% in the 1st quarter. Silicon Valley Capital Partners now owns 1,500 shares of the company's stock valued at $63,000 after buying an additional 500 shares during the period. Strs Ohio acquired a new stake in Robinhood Markets during the first quarter valued at $11,216,000. Acadian Asset Management LLC grew its position in Robinhood Markets by 293.6% in the first quarter. Acadian Asset Management LLC now owns 144,791 shares of the company's stock worth $6,018,000 after acquiring an additional 108,001 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Robinhood Markets by 43.9% in the first quarter. Geneos Wealth Management Inc. now owns 7,860 shares of the company's stock worth $327,000 after buying an additional 2,398 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

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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