Robinhood Markets (NASDAQ:HOOD) Stock Price Down 4.1% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares dropped 4.1% during trading on Monday following insider selling activity. The company traded as low as $118.86 and last traded at $123.24. Approximately 31,192,359 shares were traded during trading, a decline of 22% from the average daily volume of 39,776,383 shares. The stock had previously closed at $128.49.

Specifically, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $121.33, for a total value of $6,066,500.00. Following the completion of the transaction, the insider owned 480,949 shares in the company, valued at approximately $58,353,542.17. This represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $112.98, for a total transaction of $1,129,800.00. Following the sale, the insider owned 530,949 shares of the company’s stock, valued at approximately $59,986,618.02. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research reports. KeyCorp increased their price target on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Mizuho increased their price objective on shares of Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley upped their price target on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Bank of America boosted their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.95.

Robinhood Markets Price Performance

The business has a fifty day moving average of $132.67 and a 200 day moving average of $108.58. The stock has a market cap of $113.25 billion, a PE ratio of 52.26, a P/E/G ratio of 2.77 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $0.17 EPS. Robinhood Markets’s quarterly revenue was up 100.0% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. acquired a new position in Robinhood Markets in the third quarter worth about $1,002,000. Cambria Investment Management L.P. lifted its stake in Robinhood Markets by 63.1% during the third quarter. Cambria Investment Management L.P. now owns 15,358 shares of the company’s stock worth $2,199,000 after purchasing an additional 5,943 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Robinhood Markets in the third quarter worth $15,056,000. Tcfg Wealth Management LLC raised its holdings in shares of Robinhood Markets by 35.0% during the third quarter. Tcfg Wealth Management LLC now owns 3,626 shares of the company’s stock worth $519,000 after purchasing an additional 941 shares during the period. Finally, WBI Investments LLC bought a new position in shares of Robinhood Markets in the 3rd quarter worth about $1,431,000. 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.