Robinhood Markets (NASDAQ:HOOD) Stock Price Down 3% Following Insider Selling

Key Points

• Robinhood Markets' stock price declined by 3% following insider sales, notably CEO Vladimir Tenev selling 750,000 shares at an average price of $139.73.
• Analyst ratings for Robinhood show a mix of outlooks, with twelve analysts giving a Buy rating and a target price ranging from $48.00 to $146.00.
• The company reported a 45% year-over-year revenue increase in its last quarterly earnings, exceeding analyst expectations with $989 million in revenue.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price fell 3% on Monday following insider selling activity. The company traded as low as $144.12 and last traded at $144.26. 27,597,099 shares were traded during trading, a decline of 34% from the average session volume of 42,094,504 shares. The stock had previously closed at $148.67.

Specifically, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Analysts Set New Price Targets

HOOD has been the topic of several analyst reports. Redburn Atlantic reaffirmed a "sell" rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Piper Sandler reiterated an "overweight" rating and issued a $140.00 target price (up from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Mizuho raised their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. Morgan Stanley lifted their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. Finally, Needham & Company LLC upped their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $113.59.

Robinhood Markets Trading Down 3.0%

The stock has a market cap of $128.20 billion, a PE ratio of 73.23, a PEG ratio of 4.13 and a beta of 2.42. The firm has a fifty day simple moving average of $114.45 and a two-hundred day simple moving average of $82.87.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.21 earnings per share. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock worth $25,000 after buying an additional 148 shares during the last quarter. Hemington Wealth Management raised its stake in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets in the 2nd quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at $30,000. Finally, Pandora Wealth Inc. bought a new position in shares of Robinhood Markets during the 1st quarter valued at $33,000. 93.27% of the stock is currently owned by institutional investors.

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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