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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) shares gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $74.88, but opened at $72.06. Robinhood Markets shares last traded at $69.62, with a volume of 19,317,481 shares changing hands.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $73.49, for a total value of $431,018.85. Following the transaction, the chief technology officer now directly owns 20,636 shares of the company's stock, valued at approximately $1,516,539.64. The trade was a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $71.64, for a total transaction of $1,791,000.00. Following the completion of the transaction, the insider now directly owns 841,887 shares in the company, valued at $60,312,784.68. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider now directly owns 228,621 shares of the company's stock, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Barclays lowered their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Redburn Atlantic reiterated a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday. JMP Securities reiterated a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 1st. Finally, Citigroup lowered their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.17.

Robinhood Markets Trading Down 1.4%

The business's 50-day moving average is $55.45 and its two-hundred day moving average is $48.40. The stock has a market capitalization of $65.38 billion, a PE ratio of 47.03, a PEG ratio of 1.05 and a beta of 2.25.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business's quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. On average, 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 institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. FMR LLC raised its stake in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC raised its stake in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after purchasing an additional 273,860 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after purchasing an additional 555,299 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after acquiring an additional 3,091,514 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.