Robinhood Markets (NASDAQ:HOOD) Stock Price Down 4% on Insider Selling

by · The Cerbat Gem

Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report) shares were down 4% during trading on Wednesday following insider selling activity. The stock traded as low as $24.17 and last traded at $24.58. Approximately 5,264,699 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 15,459,786 shares. The stock had previously closed at $25.61.

Specifically, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.37, for a total value of $279,625.00. Following the transaction, the insider now directly owns 1,057,500 shares of the company’s stock, valued at $23,656,275. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HOOD. KeyCorp upped their target price on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Citigroup lifted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.83.

View Our Latest Analysis on Robinhood Markets

Robinhood Markets Trading Down 0.6 %

The firm has a fifty day moving average of $20.92 and a 200 day moving average of $20.53. The company has a market capitalization of $22.41 billion, a P/E ratio of 170.00 and a beta of 1.84.

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

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC bought a new stake in shares of Robinhood Markets in the second quarter worth $33,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets during the 1st quarter valued at about $34,000. International Assets Investment Management LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $40,000. Opal Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the 2nd quarter worth approximately $45,000. Finally, Connective Portfolio Management LLC purchased a new position in shares of Robinhood Markets in the third quarter worth approximately $47,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Company Profile

(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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