Robinhood Markets (NASDAQ:HOOD) Stock Price Down 3% After Insider Selling

Robinhood Markets, Inc. (NASDAQ:HOOD) shares fell 3% during trading on Friday after an insider sold shares in the company. The stock traded as low as $73.26 and last traded at $73.64. 20,625,314 shares changed hands during trading, a decline of 30% from the average session volume of 29,376,012 shares. The stock had previously closed at $75.92.

Specifically, Director Baiju Bhatt sold 67,422 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total value of $5,082,270.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 5,436 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $77.36, for a total value of $420,528.96. Following the completion of the sale, the chief financial officer directly owned 47,311 shares in the company, valued at approximately $3,659,978.96. The trade was a 10.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HOOD. Citizens Jmp reissued a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a research report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Friday, March 27th. New Street Research set a $122.00 target price on Robinhood Markets in a research report on Thursday, March 5th. Needham & Company LLC dropped their price target 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. Finally, Mizuho boosted their price target on shares of Robinhood Markets from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.88.

Robinhood Markets Price Performance

The company’s 50 day simple moving average is $76.21 and its 200 day simple moving average is $96.63. The firm has a market cap of $66.31 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.45 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.88 earnings per share for the current year.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Command Advisory Services Inc. grew its stake in shares of Robinhood Markets by 33.8% during the third quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock worth $46,000 after purchasing an additional 81 shares in the last quarter. Evolution Wealth Advisors LLC lifted its position in Robinhood Markets by 5.2% in the fourth quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock valued at $217,000 after acquiring an additional 95 shares during the last quarter. CogentBlue Wealth Advisors LLC lifted its position in Robinhood Markets by 4.1% in the fourth quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock valued at $282,000 after acquiring an additional 98 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Finally, Vision Financial Markets LLC lifted its position 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 during the last quarter. Institutional investors and hedge funds 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.