Robinhood Markets (NASDAQ:HOOD) Shares Down 3.9% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price fell 3.9% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $116.55 and last traded at $116.97. 17,698,753 shares were traded during trading, a decline of 21% from the average session volume of 22,513,055 shares. The stock had previously closed at $121.70.

Specifically, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.58, for a total value of $1,215,800.00. Following the completion of the sale, the insider owned 403,612 shares of the company’s stock, valued at approximately $49,071,146.96. This represents a 2.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Monday, January 5th. The stock was sold at an average price of $121.59, for a total transaction of $713,003.76. Following the completion of the transaction, the chief technology officer owned 14,997 shares in the company, valued at approximately $1,823,485.23. The trade was a 28.11% decrease in their position. The SEC filing for this sale provides additional information. In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $121.63, for a total transaction of $45,611,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HOOD shares. CICC Research initiated coverage on Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price for the company. JMP Securities upped their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. KeyCorp increased their target price on shares of Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Dbs Bank upgraded Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Finally, Citigroup boosted their target price on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $136.80.

Robinhood Markets Trading Down 3.9%

The stock’s fifty day moving average price is $124.96 and its 200 day moving average price is $117.78. The stock has a market cap of $105.18 billion, a P/E ratio of 48.54, a PEG ratio of 1.87 and a beta of 2.44.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. 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 last quarter. State Street Corp boosted its stake in Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after purchasing an additional 16,375,734 shares in the last quarter. Geode Capital Management LLC grew its position in Robinhood Markets by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock valued at $1,233,840,000 after purchasing an additional 507,926 shares during the last quarter. WCM Investment Management LLC grew its position in Robinhood Markets by 3,615.7% during the 2nd 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 last quarter. Finally, Norges Bank bought a new stake in Robinhood Markets during the 2nd quarter valued at about $973,122,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.