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

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) fell 4.1% on Monday after an insider sold shares in the company. The stock traded as low as $118.86 and last traded at $123.24. 31,192,359 shares traded hands during trading, a decline of 22% from the average session 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 company’s stock in a transaction dated Wednesday, November 26th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $1,129,800.00. Following the sale, the insider directly owned 530,949 shares in the company, valued at approximately $59,986,618.02. This trade represents a 1.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

Several analysts recently commented on HOOD shares. Mizuho raised their target price on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. CICC Research began coverage on Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target for the company. Piper Sandler restated an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. Barclays increased their target price on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $136.95.

Robinhood Markets Trading Down 4.1%

The company’s 50-day moving average price is $132.70 and its two-hundred day moving average price is $107.69. The company has a market cap of $110.82 billion, a P/E ratio of 51.14, a price-to-earnings-growth ratio of 2.89 and a beta of 2.43.

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

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently modified their holdings of HOOD. Polar Asset Management Partners Inc. acquired a new position in shares of Robinhood Markets in the 3rd quarter worth $1,002,000. Cambria Investment Management L.P. boosted its position in shares of Robinhood Markets by 63.1% in the 3rd quarter. Cambria Investment Management L.P. now owns 15,358 shares of the company’s stock valued at $2,199,000 after purchasing an additional 5,943 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Robinhood Markets in the 3rd quarter worth about $15,056,000. Tcfg Wealth Management LLC raised its holdings in Robinhood Markets by 35.0% during the 3rd quarter. Tcfg Wealth Management LLC now owns 3,626 shares of the company’s stock worth $519,000 after buying an additional 941 shares during the period. Finally, WBI Investments LLC purchased a new stake in Robinhood Markets during the third quarter valued at about $1,431,000. 93.27% of the stock is owned by institutional investors.

About Robinhood Markets

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.