Robinhood Markets (NASDAQ:HOOD) Insider Steven Quirk Sells 10,837 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 10,837 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total transaction of $931,006.67. Following the transaction, the insider directly owned 81,989 shares of the company’s stock, valued at approximately $7,043,674.99. This trade represents a 11.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $82.47 on Friday. The firm has a market cap of $74.27 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 2.64 and a beta of 2.35. The company has a 50-day moving average of $78.09 and a two-hundred day moving average of $93.03. Robinhood Markets, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.85 EPS for the current fiscal year.

Robinhood Markets News Roundup

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Institutional Trading of Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the company. Vision Financial Markets LLC raised its holdings in Robinhood Markets by 100.0% in the third quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. CYBER HORNET ETFs LLC raised its holdings in Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $27,000. Swiss RE Ltd. acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $27,000. Finally, Elyxium Wealth LLC acquired a new stake in Robinhood Markets during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research note on Friday, March 27th. Truist Financial lowered their target price on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Keefe, Bruyette & Woods lowered their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Finally, Needham & Company LLC lowered their target price on shares of Robinhood Markets from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Nineteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.54.

Robinhood Markets Company Profile

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.