Robinhood Markets (NASDAQ:HOOD) Stock Price Down 10.1% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price traded down 10.1% during trading on Thursday following insider selling activity. The company traded as low as $105.24 and last traded at $106.21. 41,907,251 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 40,016,961 shares. The stock had previously closed at $118.16.

Specifically, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $116.56, for a total value of $48,761,477.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $116.56, for a total value of $48,761,477.28. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research reports. Barclays boosted their target price on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. JMP Securities boosted their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Loop Capital set a $161.00 target price on shares of Robinhood Markets in a research note on Monday, October 27th. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Finally, Needham & Company LLC upped their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.95.

Robinhood Markets Price Performance

The stock has a market cap of $95.50 billion, a P/E ratio of 44.07, a P/E/G ratio of 2.57 and a beta of 2.42. The firm’s 50 day moving average price is $132.71 and its 200-day moving average price is $104.20.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Robinhood Markets by 24.9% in the third quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock worth $13,521,497,000 after acquiring an additional 18,824,923 shares during the period. State Street Corp lifted its position in Robinhood Markets by 103.2% during the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after purchasing an additional 16,375,734 shares during the period. WCM Investment Management LLC lifted its position in Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Norges Bank purchased a new stake in Robinhood Markets in the second quarter worth approximately $973,122,000. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Robinhood Markets in the second quarter worth approximately $951,479,000. 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.