Robinhood Markets (NASDAQ:HOOD) Shares Down 2.6% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price fell 2.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $21.66 and last traded at $21.70. 3,822,396 shares traded hands during trading, a decline of 77% from the average session volume of 16,366,243 shares. The stock had previously closed at $22.29.

Specifically, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 154,160 shares of Robinhood Markets stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $17.61, for a total value of $2,714,757.60. Following the completion of the transaction, the director now owns 36,045 shares in the company, valued at approximately $634,752.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,486,733 shares of company stock valued at $28,618,091. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent analyst reports. Sanford C. Bernstein began coverage on shares of Robinhood Markets in a report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 target price on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, June 20th. The Goldman Sachs Group raised their target price on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Finally, Barclays upped their price target on Robinhood Markets from $16.00 to $18.00 and gave the company an “underweight” rating in a research report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.77.

Robinhood Markets Trading Up 0.8 %

The company has a market capitalization of $19.61 billion, a P/E ratio of 150.53 and a beta of 1.83. The company’s 50 day moving average is $19.74 and its 200-day moving average is $16.26.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The business had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.57) earnings per share. Analysts predict that Robinhood Markets, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Robinhood Markets during the 4th quarter valued at about $84,165,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Robinhood Markets by 9.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after acquiring an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Robinhood Markets by 9.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after acquiring an additional 2,486,986 shares during the last quarter. Vanguard Group Inc. lifted its position in Robinhood Markets by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after acquiring an additional 2,459,702 shares in the last quarter. Finally, ARK Investment Management LLC boosted its stake in Robinhood Markets by 6.4% during the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after purchasing an additional 2,101,325 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other 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.