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

Key Points

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Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) 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 traded hands during 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 company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $109.39, for a total value of $45,761,993.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Cantor Fitzgerald upped their target price on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Citigroup increased their price objective on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Needham & Company LLC increased their price objective on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Robinhood Markets Stock Performance

The stock has a 50-day simple moving average of $96.19 and a 200 day simple moving average of $66.79. The company has a market cap of $97.88 billion, a P/E ratio of 55.72, a P/E/G ratio of 4.35 and a beta of 2.36.

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

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Whipplewood Advisors LLC increased its stake in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock valued at $25,000 after buying an additional 148 shares during the period. Hemington Wealth Management increased its stake in shares of Robinhood Markets by 52.2% in the 1st 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 period. Smithfield Trust Co acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $29,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at $30,000. 93.27% of the stock is owned by institutional investors and hedge funds.

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.

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