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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $42.68, but opened at $37.97. Robinhood Markets shares last traded at $38.42, with a volume of 18,480,877 shares trading hands.

Specifically, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HOOD. Piper Sandler boosted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. KeyCorp raised their price target on Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald began coverage on Robinhood Markets in a research note on Thursday, March 6th. They issued an "overweight" rating and a $69.00 target price for the company. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.24.

Robinhood Markets Stock Down 9.8 %

The firm has a market capitalization of $30.56 billion, a P/E ratio of 21.98, a PEG ratio of 1.05 and a beta of 2.17. The business's 50 day moving average is $48.15 and its two-hundred day moving average is $38.82.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities analysts anticipate 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 HOOD. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the 4th quarter worth $26,000. CoreCap Advisors LLC increased its stake in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after buying an additional 498 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new position in shares of Robinhood Markets in the fourth quarter worth about $34,000. 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.