Robinhood Markets (NASDAQ:HOOD) Shares Down 0.6% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price was down 0.6% during trading on Monday after an insider sold shares in the company. The company traded as low as $49.12 and last traded at $49.15. Approximately 14,380,768 shares traded hands during trading, a decline of 42% from the average daily volume of 24,901,288 shares. The stock had previously closed at $49.45.

Specifically, Director Baiju Bhatt sold 47,133 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $45.27, for a total transaction of $2,133,710.91. Following the completion of the sale, the director now directly owns 7,863 shares of the company's stock, valued at $355,958.01. This trade represents a 85.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Mizuho raised their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Morgan Stanley cut Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 price target for the company. in a report on Tuesday, April 8th. KeyCorp lowered their target price 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. Piper Sandler lifted their target price on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Raymond James initiated coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $53.24.

Robinhood Markets Trading Down 5.1 %

The company has a 50 day simple moving average of $43.10 and a 200-day simple moving average of $41.27. The stock has a market cap of $41.28 billion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 1.05 and a beta of 2.17.

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

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. Wilmington Savings Fund Society FSB acquired a new stake in shares of Robinhood Markets during the third quarter worth $351,000. Franklin Resources Inc. bought a new position in shares of Robinhood Markets in the third quarter worth $6,321,000. Garden State Investment Advisory Services LLC bought a new position in shares of Robinhood Markets in the third quarter worth $263,000. Versant Capital Management Inc increased its position in shares of Robinhood Markets by 6,799.1% in the fourth quarter. Versant Capital Management Inc now owns 22,974 shares of the company's stock worth $856,000 after purchasing an additional 22,641 shares during the period. Finally, GAMMA Investing LLC grew its position in Robinhood Markets by 49.3% in the fourth quarter. GAMMA Investing LLC now owns 5,858 shares of the company's stock valued at $218,000 after acquiring an additional 1,935 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.