Steven Quirk Sells 48,350 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 48,350 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the completion of the transaction, the insider directly owned 70,279 shares in the company, valued at $9,881,930.19. This trade represents a 40.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Robinhood Markets Stock Up 2.6%

Shares of HOOD stock opened at $130.36 on Friday. The firm has a market cap of $115.85 billion, a P/E ratio of 54.09, a PEG ratio of 3.22 and a beta of 2.42. The company has a 50 day moving average of $130.11 and a 200-day moving average of $99.54. Robinhood Markets, Inc. has a 12-month low of $29.21 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data 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 22.13% and a net margin of 52.19%.The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 100.0% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. The Goldman Sachs Group increased their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Mizuho raised their target price on Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell 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 $132.65.

Institutional Trading of Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Alliance LLC purchased a new position in shares of Robinhood Markets during the third quarter worth about $214,000. Harold Davidson & Associates Inc. bought a new stake in Robinhood Markets during the third quarter valued at approximately $1,675,000. NewEdge Wealth LLC grew its stake in Robinhood Markets by 166.1% in the 3rd quarter. NewEdge Wealth LLC now owns 10,395 shares of the company’s stock worth $1,481,000 after buying an additional 6,488 shares in the last quarter. Essex Financial Services Inc. grew its stake in Robinhood Markets by 13.3% in the 3rd quarter. Essex Financial Services Inc. now owns 3,856 shares of the company’s stock worth $552,000 after buying an additional 454 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new position in shares of Robinhood Markets in the 3rd quarter worth $427,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.