Robinhood Markets (NASDAQ:HOOD) Shares Down 0.6% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) traded down 0.6% during trading on Monday after an insider sold shares in the company. The company traded as low as $49.12 and last traded at $49.15. 14,380,768 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 24,901,288 shares. The stock had previously closed at $49.45.

Specifically, Director Baiju Bhatt sold 47,133 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $45.27, for a total value of $2,133,710.91. Following the completion of the sale, the director now directly owns 7,863 shares of the company’s stock, valued at $355,958.01. This represents a 85.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Mizuho upped their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Needham & Company LLC lowered their target price on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, March 28th. Barclays cut their price target on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Morgan Stanley lowered shares of Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research note on Tuesday, April 8th. Finally, JMP Securities reduced their target price on Robinhood Markets from $77.00 to $70.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Six equities research 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, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $53.88.

Robinhood Markets Stock Performance

The firm has a 50 day moving average price of $43.28 and a two-hundred day moving average price of $41.16. The company has a market cap of $43.33 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of Robinhood Markets by 124.0% in the first quarter. Principal Financial Group Inc. now owns 261,457 shares of the company’s stock valued at $10,882,000 after purchasing an additional 144,725 shares in the last quarter. Straight Path Wealth Management purchased a new position in Robinhood Markets during the 1st quarter valued at about $216,000. Teacher Retirement System of Texas purchased a new position in Robinhood Markets during the 1st quarter valued at about $3,725,000. Private Trust Co. NA increased its position in shares of Robinhood Markets by 8,726.9% during the first quarter. Private Trust Co. NA now owns 4,590 shares of the company’s stock valued at $191,000 after buying an additional 4,538 shares during the period. Finally, Vishria Bird Financial Group LLC purchased a new stake in shares of Robinhood Markets in the first quarter worth about $205,000. 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.