Robinhood Markets (NASDAQ:HOOD) Stock Price Down 5.4% Following Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) fell 5.4% on Monday following insider selling activity. The stock traded as low as $68.56 and last traded at $70.82. 31,160,634 shares changed hands during trading, an increase of 15% from the average session volume of 26,982,939 shares. The stock had previously closed at $74.88.

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 in the company, 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 SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $71.64, for a total transaction of $1,791,000.00. Following the completion of the sale, the insider now owns 841,887 shares of the company's stock, valued at $60,312,784.68. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In other news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the sale, the insider now directly owns 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent analyst reports. Compass Point initiated coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 target price for the company. Morgan Stanley boosted their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Piper Sandler lifted 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. Barclays reduced their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.17.

Robinhood Markets Stock Down 1.4%

The business's 50 day moving average is $55.45 and its 200-day moving average is $48.40. The firm has a market cap of $65.38 billion, a P/E ratio of 47.03, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25.

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

Institutional Trading of Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in HOOD. Yousif Capital Management LLC bought a new stake in Robinhood Markets during the fourth quarter valued at $321,000. Choreo LLC bought a new stake in Robinhood Markets during the fourth quarter valued at $288,000. Bleakley Financial Group LLC bought a new stake in Robinhood Markets during the fourth quarter valued at $277,000. Kingsview Wealth Management LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth about $595,000. Finally, Empowered Funds LLC grew its position in shares of Robinhood Markets by 279.5% during the fourth quarter. Empowered Funds LLC now owns 33,985 shares of the company's stock worth $1,266,000 after acquiring an additional 25,030 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

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.