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

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s share price dropped 1.7% during trading on Friday after an insider sold shares in the company. The company traded as low as $62.81 and last traded at $63.64. Approximately 10,932,837 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 26,387,932 shares. The stock had previously closed at $64.77.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOOD. Morgan Stanley lifted their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Cantor Fitzgerald dropped their target price on Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Citigroup dropped their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Price Performance

The firm's 50 day moving average price is $47.30 and its 200-day moving average price is $44.63. The firm has a market cap of $56.31 billion, a price-to-earnings ratio of 40.54, a P/E/G ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share (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 for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The business's revenue for the quarter was up 50.0% compared to the same quarter last year. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in shares of Robinhood Markets by 293.6% during the 1st quarter. Acadian Asset Management LLC now owns 144,791 shares of the company's stock worth $6,018,000 after purchasing an additional 108,001 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Robinhood Markets by 43.9% in the first quarter. Geneos Wealth Management Inc. now owns 7,860 shares of the company's stock worth $327,000 after purchasing an additional 2,398 shares during the period. IFM Investors Pty Ltd boosted its stake in Robinhood Markets by 6.6% during the first quarter. IFM Investors Pty Ltd now owns 107,687 shares of the company's stock worth $4,482,000 after buying an additional 6,648 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in Robinhood Markets during the first quarter worth $255,000. Finally, Intech Investment Management LLC increased its holdings in Robinhood Markets by 187.3% in the 1st quarter. Intech Investment Management LLC now owns 313,769 shares of the company's stock valued at $13,059,000 after buying an additional 204,551 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.