Robinhood Markets (NASDAQ:HOOD) Trading Down 3.9% Following Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report)'s stock price dropped 3.9% during mid-day trading on Friday following insider selling activity. The company traded as low as $92.11 and last traded at $94.13. Approximately 56,373,803 shares changed hands during trading, an increase of 91% from the average daily volume of 29,450,983 shares. The stock had previously closed at $97.98.

Specifically, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

A number of equities analysts have recently commented on HOOD shares. The Goldman Sachs Group raised their price objective on Robinhood Markets from $82.00 to $91.00 and gave the stock a "buy" rating in a report on Friday, June 27th. KeyCorp boosted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday. Needham & Company LLC restated a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a report on Tuesday, May 27th. Barclays decreased their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Finally, Citigroup cut their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. One research 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. Based on data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Robinhood Markets Stock Performance

The firm has a market capitalization of $83.35 billion, a P/E ratio of 53.48, a P/E/G ratio of 4.98 and a beta of 2.36. The stock has a fifty day moving average price of $67.91 and a two-hundred day moving average price of $52.97.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC boosted its position in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after buying an additional 171 shares during the period. Cigna Investments Inc. New increased its position in Robinhood Markets by 2.7% in the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock valued at $280,000 after acquiring an additional 174 shares during the period. Hemington Wealth Management raised its stake in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock worth $368,000 after acquiring an additional 233 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after purchasing an additional 265 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.

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