Robinhood Markets (NASDAQ:HOOD) Shares Down 2.6% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s stock price traded down 2.6% on Monday following insider selling activity. The stock traded as low as $37.45 and last traded at $38.01. 4,357,175 shares traded hands during trading, a decline of 74% from the average session volume of 16,985,779 shares. The stock had previously closed at $39.02.

Specifically, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now directly owns 806,955 shares in the company, valued at approximately $30,268,882.05. This represents a 27.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HOOD shares. Keefe, Bruyette & Woods upped their target price on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $26.00 to $49.00 in a report on Monday, December 9th. JMP Securities increased their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. KeyCorp boosted their target price on Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $39.20.

Robinhood Markets Price Performance

The stock’s 50 day moving average is $34.36 and its two-hundred day moving average is $26.25. The stock has a market capitalization of $33.82 billion, a PE ratio of 64.85, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the last quarter. State Street Corp grew its holdings in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after purchasing an additional 1,895,427 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after buying an additional 1,137,677 shares during the last quarter. Hedge funds and other 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.