Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells 208,291 Shares of Stock

by · The Cerbat Gem

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) insider Steven M. Quirk sold 208,291 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total value of $5,203,109.18. Following the sale, the insider now directly owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Robinhood Markets Stock Down 0.6 %

Shares of HOOD opened at $25.50 on Friday. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $25.87. The firm has a market capitalization of $22.56 billion, a PE ratio of 77.28 and a beta of 1.84. The stock’s fifty day simple moving average is $20.92 and its 200-day simple moving average is $20.53.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. Analysts anticipate that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently added to or reduced their stakes in HOOD. Renaissance Technologies LLC lifted its stake in Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Robinhood Markets by 169.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after buying an additional 1,251,495 shares during the period. AQR Capital Management LLC lifted its stake in Robinhood Markets by 274.7% in the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after buying an additional 1,218,317 shares during the period. Acadian Asset Management LLC lifted its stake in Robinhood Markets by 7,622.2% in the second quarter. Acadian Asset Management LLC now owns 1,040,877 shares of the company’s stock valued at $23,625,000 after buying an additional 1,027,398 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on HOOD shares. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. Morgan Stanley boosted their price target on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.83.

Check Out Our Latest Analysis on HOOD

About Robinhood Markets

(Get Free Report)

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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