Robinhood Markets (NASDAQ:HOOD) Trading Down 1.7% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price traded down 1.7% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $71.66 and last traded at $72.14. 15,956,736 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 27,070,590 shares. The stock had previously closed at $73.40.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, KeyCorp reduced their price objective on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.17.

Robinhood Markets Stock Performance

The company has a market capitalization of $66.33 billion, a PE ratio of 47.62, a PEG ratio of 1.05 and a beta of 2.25. The stock has a fifty day moving average of $53.87 and a 200 day moving average of $47.97.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same period last year, the firm posted $0.18 EPS. Robinhood Markets's quarterly revenue was up 50.0% compared to the same quarter last year. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Trading of Robinhood Markets

Hedge funds have recently bought and sold shares of the stock. Cim LLC increased its holdings in shares of Robinhood Markets by 49.8% in the first quarter. Cim LLC now owns 81,911 shares of the company's stock worth $3,409,000 after purchasing an additional 27,230 shares during the last quarter. Silicon Valley Capital Partners increased its holdings in shares of Robinhood Markets by 50.0% in the 1st quarter. Silicon Valley Capital Partners now owns 1,500 shares of the company's stock worth $63,000 after buying an additional 500 shares during the last quarter. Strs Ohio purchased a new stake in shares of Robinhood Markets during the 1st quarter valued at about $11,216,000. Acadian Asset Management LLC lifted its holdings in shares of Robinhood Markets by 293.6% in the 1st quarter. Acadian Asset Management LLC now owns 144,791 shares of the company's stock valued at $6,018,000 after acquiring an additional 108,001 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Robinhood Markets by 43.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,860 shares of the company's stock valued at $327,000 after acquiring an additional 2,398 shares during the last quarter. Hedge funds and other 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.