Robinhood Markets (NASDAQ:HOOD) Stock Price Down 1.7% on Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD)’s share price dropped 1.7% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $103.00 and last traded at $103.40. Approximately 22,057,194 shares changed hands during trading, an increase of 6% from the average daily volume of 20,767,357 shares. The stock had previously closed at $105.24.

Specifically, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $107.48, for a total transaction of $630,262.72. Following the completion of the transaction, the chief technology officer directly owned 9,133 shares in the company, valued at $981,614.84. This trade represents a 39.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of equities analysts recently commented on HOOD shares. Compass Point restated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Piper Sandler reaffirmed an “overweight” rating on shares of Robinhood Markets in a research note on Monday, January 5th. Morgan Stanley raised their price target on shares of Robinhood Markets from $146.00 to $147.00 and gave the company an “equal weight” rating in a research report on Monday, December 22nd. Argus began coverage on shares of Robinhood Markets in a research note on Friday, January 9th. They issued a “buy” rating and a $145.00 price target for the company. Finally, CICC Research initiated coverage on Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.62.

Robinhood Markets Price Performance

The company has a market capitalization of $92.98 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 1.67 and a beta of 2.44. The stock has a 50 day simple moving average of $118.59 and a two-hundred day simple moving average of $119.98.

Robinhood Markets (NASDAQ:HOOD) last released 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 for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $0.17 earnings per share. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HOOD. Jennison Associates LLC acquired a new position in shares of Robinhood Markets during the third quarter worth $322,823,000. Coordinated Financial Services Inc. acquired a new position in Robinhood Markets in the 2nd quarter worth $403,000. Allstate Corp purchased a new position in Robinhood Markets in the 3rd quarter valued at about $3,860,000. New Wave Wealth Advisors LLC boosted its position in Robinhood Markets by 479.4% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 13,331 shares of the company’s stock valued at $1,909,000 after buying an additional 11,030 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Robinhood Markets by 8.5% during the third quarter. Asset Management One Co. Ltd. now owns 304,424 shares of the company’s stock worth $43,587,000 after acquiring an additional 23,737 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.