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

Robinhood Markets, Inc. (NASDAQ:HOODGet Free Report)’s stock price gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $19.41, but opened at $18.37. Robinhood Markets shares last traded at $18.37, with a volume of 3,544,230 shares trading hands.

Specifically, insider Baiju Bhatt sold 222,877 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $12.28, for a total value of $2,736,929.56. Following the sale, the insider now directly owns 3,497 shares in the company, valued at approximately $42,943.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Baiju Bhatt sold 222,877 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $12.28, for a total transaction of $2,736,929.56. Following the completion of the sale, the insider now owns 3,497 shares in the company, valued at approximately $42,943.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 916,267 shares in the company, valued at $10,995,204. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,185,027 shares of company stock worth $31,565,248. Corporate insiders own 20.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on HOOD. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, March 19th. Barclays upped their price target on shares of Robinhood Markets from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. KeyCorp lifted their price objective on shares of Robinhood Markets from $15.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods assumed coverage on Robinhood Markets in a report on Wednesday. They issued a “market perform” rating and a $20.00 target price for the company. Finally, Piper Sandler raised their target price on Robinhood Markets from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.35.

Check Out Our Latest Stock Analysis on HOOD

Robinhood Markets Trading Up 0.1 %

The company has a fifty day moving average of $15.28 and a 200-day moving average of $12.01.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The business’s revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS. As a group, analysts predict that Robinhood Markets, Inc. will post 0.23 EPS for the current year.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. HighPoint Advisor Group LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth $596,000. Quadrature Capital Ltd boosted its holdings in Robinhood Markets by 198.8% in the fourth quarter. Quadrature Capital Ltd now owns 237,561 shares of the company’s stock worth $3,029,000 after purchasing an additional 158,044 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. Wellington Management Group LLP bought a new position in Robinhood Markets during the fourth quarter valued at about $8,299,000. Finally, PBCay One RSC Ltd acquired a new stake in shares of Robinhood Markets in the fourth quarter worth about $289,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

(Get Free Report)

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.

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