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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $49.37, but opened at $46.41. Robinhood Markets shares last traded at $47.02, with a volume of 7,192,363 shares changing hands.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $49.27, for a total transaction of $288,377.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 47,133 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $45.27, for a total transaction of $2,133,710.91. Following the completion of the sale, the director now directly owns 7,863 shares of the company's stock, valued at $355,958.01. The trade was a 85.70 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent analyst reports. Morgan Stanley lowered Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price on the stock. in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. JMP Securities lowered their target price on shares of Robinhood Markets from $77.00 to $70.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. KeyCorp reduced their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup lowered their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.88.

Robinhood Markets Trading Down 3.4 %

The firm has a market capitalization of $42.24 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The company has a 50-day moving average of $43.15 and a 200-day moving average of $41.22.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently bought and sold shares of HOOD. Wilmington Savings Fund Society FSB bought a new position in shares of Robinhood Markets in the 3rd quarter worth about $351,000. Franklin Resources Inc. bought a new stake in Robinhood Markets in the third quarter worth approximately $6,321,000. Garden State Investment Advisory Services LLC acquired a new position in Robinhood Markets in the third quarter valued at approximately $263,000. Versant Capital Management Inc boosted its holdings in shares of Robinhood Markets by 6,799.1% during the 4th quarter. Versant Capital Management Inc now owns 22,974 shares of the company's stock worth $856,000 after buying an additional 22,641 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Robinhood Markets by 49.3% during the 4th quarter. GAMMA Investing LLC now owns 5,858 shares of the company's stock worth $218,000 after buying an additional 1,935 shares during the period. Institutional investors own 93.27% of the company's stock.

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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