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 Friday following insider selling activity. The company traded as low as $62.81 and last traded at $63.64. 10,932,837 shares changed hands during trading, a decline of 59% from the average session volume of 26,387,932 shares. The stock had previously closed at $64.77.

Specifically, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.46, for a total value of $26,966,067.48. Following the transaction, the director now directly owns 7,863 shares of the company's stock, valued at $506,848.98. The trade was a 98.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. The Goldman Sachs Group boosted their target price on Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Barclays reduced their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Stock Up 4.9%

The stock has a market capitalization of $58.68 billion, a P/E ratio of 42.20, a P/E/G ratio of 1.05 and a beta of 2.15. The business has a fifty day moving average price of $48.17 and a 200-day moving average price of $45.34.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly 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 business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC lifted its holdings in shares of Robinhood Markets by 293.6% during the first quarter. Acadian Asset Management LLC now owns 144,791 shares of the company's stock valued at $6,018,000 after purchasing an additional 108,001 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Robinhood Markets by 43.9% during the first 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. IFM Investors Pty Ltd increased its position in Robinhood Markets by 6.6% during the first quarter. IFM Investors Pty Ltd now owns 107,687 shares of the company's stock valued at $4,482,000 after acquiring an additional 6,648 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Robinhood Markets in the first quarter worth about $255,000. Finally, Intech Investment Management LLC increased its position in Robinhood Markets by 187.3% in the first quarter. Intech Investment Management LLC now owns 313,769 shares of the company's stock worth $13,059,000 after buying an additional 204,551 shares in the last quarter. 93.27% of the stock is 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.