Robinhood Markets (NASDAQ:HOOD) Shares Down 4.5% After Insider Selling

Key Points

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Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares were down 4.5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $109.32 and last traded at $109.83. Approximately 16,976,470 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 41,516,879 shares. The stock had previously closed at $115.02.

Specifically, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $109.39, for a total value of $45,761,993.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HOOD shares. Citigroup raised their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft raised their price objective 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, Piper Sandler raised their price objective on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Stock Performance

The stock's 50-day simple moving average is $98.88 and its 200-day simple moving average is $68.10. The firm has a market capitalization of $97.15 billion, a PE ratio of 55.49, a P/E/G ratio of 3.90 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of the business. True Vision MN LLC grew its position in shares of Robinhood Markets by 1.7% in the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company's stock worth $642,000 after buying an additional 116 shares during the period. Forum Financial Management LP boosted its stake in Robinhood Markets by 0.8% in the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company's stock worth $1,685,000 after purchasing an additional 134 shares in the last quarter. Hemington Wealth Management boosted its stake in Robinhood Markets by 22.5% in the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company's stock worth $72,000 after purchasing an additional 143 shares in the last quarter. Ballentine Partners LLC boosted its stake in Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock worth $620,000 after purchasing an additional 148 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock worth $25,000 after purchasing an additional 148 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.