Robinhood Markets (NASDAQ:HOOD) Insider Steven Quirk Sells 60,113 Shares

Key Points

• Steven Quirk, an insider at Robinhood Markets, sold 60,113 shares on September 3rd for approximately $6.07 million, reducing his ownership stake by 38.89%.
• Following the sale, Quirk retains 94,454 shares valued at about $9.53 million, indicating significant personal investment in the company despite the share sale.
• Equities analysts have raised their price targets for Robinhood Markets, with Goldman Sachs setting a new target of $104 and Barclays increasing theirs to $120, reflecting positive sentiment towards the stock.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Steven Quirk sold 60,113 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the transaction, the insider directly owned 94,454 shares of the company's stock, valued at $9,531,353.14. This trade represents a 38.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robinhood Markets Price Performance

Shares of HOOD stock traded down $1.66 during trading hours on Friday, hitting $101.25. The stock had a trading volume of 60,005,141 shares, compared to its average volume of 41,308,566. The stock has a market capitalization of $89.98 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 3.69 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70. The stock's 50-day moving average price is $103.35 and its two-hundred day moving average price is $70.95.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on HOOD shares. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods upped their target price 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. Barclays upped their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Morgan Stanley upped their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Institutional Trading of Robinhood Markets

A number of large investors have recently modified their holdings of the company. Whipplewood Advisors LLC raised its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock valued at $25,000 after acquiring an additional 148 shares in the last quarter. Hemington Wealth Management lifted its stake in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Smithfield Trust Co bought a new position in Robinhood Markets during the 2nd quarter worth about $29,000. Finally, Wayfinding Financial LLC bought a new position in Robinhood Markets during the 1st quarter worth about $30,000. Hedge funds and other institutional investors 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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