Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Steven M. Quirk Sells 40,131 Shares

Key Points

• Insider Steven M. Quirk sold 40,131 shares of Robinhood Markets at an average price of $104.71, reducing his ownership by 25% and retaining 120,408 shares post-transaction.
• Robinhood's stock saw a 5.3% increase during trading, reaching $111.23, with significant trading volume of over 44 million shares.
• The company reported $0.42 earnings per share for the last quarter, exceeding estimates and showing a 45% year-over-year revenue growth.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Steven M. Quirk sold 40,131 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total value of $4,202,117.01. Following the transaction, the insider owned 120,408 shares of the company's stock, valued at $12,607,921.68. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Robinhood Markets Trading Up 5.3%

Shares of NASDAQ:HOOD traded up $5.58 during midday trading on Thursday, reaching $111.23. 44,568,511 shares of the company were exchanged, compared to its average volume of 41,867,551. Robinhood Markets, Inc. has a one year low of $16.68 and a one year high of $113.44. The business's fifty day moving average is $89.38 and its two-hundred day moving average is $63.12. The stock has a market cap of $98.49 billion, a PE ratio of 56.46, a price-to-earnings-growth ratio of 4.02 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business's revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. Newlands Management Operations LLC grew its holdings in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after buying an additional 273,860 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock worth $1,081,910,000 after buying an additional 11,244,182 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Robinhood Markets by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after acquiring an additional 52,700 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter valued at about $951,479,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on HOOD shares. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Citigroup lifted their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Mizuho boosted their target price on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group boosted 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. Finally, Barclays boosted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.29.

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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