Robinhood Markets (NASDAQ:HOOD) Stock Price Down 4.9% After Insider Selling

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) traded down 4.9% on Tuesday following insider selling activity. The company traded as low as $91.44 and last traded at $91.53. Approximately 13,842,134 shares were traded during mid-day trading, a decline of 51% from the average session volume of 28,135,000 shares. The stock had previously closed at $96.25.

Specifically, Director Baiju Bhatt sold 50,317 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $96.80, for a total transaction of $4,870,685.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HOOD. Zacks Research upgraded shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Citizens Jmp reiterated a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a research note on Thursday, July 30th. Barclays dropped their price objective on shares of Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Mizuho raised their target price on shares of Robinhood Markets from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Finally, Argus lifted their target price on Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.52.

Robinhood Markets Trading Down 4.9%

The company has a market cap of $82.29 billion, a price-to-earnings ratio of 40.32, a P/E/G ratio of 1.87 and a beta of 2.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s fifty day moving average price is $100.32 and its 200-day moving average price is $86.23.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. On average, equities analysts expect that Robinhood Markets, Inc. will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Robinhood Markets by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company’s stock worth $10,831,756,000 after buying an additional 1,334,443 shares during the period. State Street Corp increased its position in Robinhood Markets by 2.7% in the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock valued at $3,746,036,000 after acquiring an additional 875,297 shares during the period. Geode Capital Management LLC raised its stake in Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after acquiring an additional 356,902 shares in the last quarter. Morgan Stanley raised its stake in Robinhood Markets by 23.9% during the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after acquiring an additional 2,061,832 shares in the last quarter. Finally, Norges Bank acquired a new position in Robinhood Markets during the 4th quarter worth $1,202,160,000. Institutional investors 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.