Robinhood Markets (NASDAQ:HOOD) Stock Price Down 2.3% After Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) dropped 2.3% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $90.70 and last traded at $91.29. Approximately 29,599,289 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 29,620,883 shares. The stock had previously closed at $93.46.

Specifically, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total value of $2,347,000.00. Following the completion of the transaction, the insider owned 816,887 shares in the company, valued at $76,689,351.56. This trade represents a 2.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here.

Analysts Set New Price Targets

HOOD has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday. Cantor Fitzgerald raised their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Compass Point raised their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Mizuho raised their target price on shares of Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.06.

Robinhood Markets Stock Down 0.5%

The company's fifty day moving average price is $72.49 and its 200 day moving average price is $54.91. The company has a market capitalization of $86.96 billion, a P/E ratio of 55.89, a PEG ratio of 4.77 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the business posted $0.18 earnings per share. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. Research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HOOD. Whipplewood Advisors LLC increased its holdings in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the period. Hemington Wealth Management increased its stake in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC bought a new position in Robinhood Markets in the first quarter valued at approximately $30,000. CoreCap Advisors LLC increased its stake in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares during 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.