Robinhood Markets (NASDAQ:HOOD) Insider Steven Quirk Sells 48,350 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 48,350 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the transaction, the insider directly owned 70,279 shares of the company’s stock, valued at $9,881,930.19. This trade represents a 40.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $127.08 on Friday. Robinhood Markets, Inc. has a 1-year low of $28.67 and a 1-year high of $153.86. The business’s 50 day moving average is $129.58 and its two-hundred day moving average is $98.91. The stock has a market capitalization of $112.93 billion, a P/E ratio of 52.73, a PEG ratio of 3.70 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 22.13%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. lifted its holdings in Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Golden State Wealth Management LLC raised its holdings 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 in the last quarter. Vision Financial Markets LLC grew its holdings in Robinhood Markets by 100.0% during the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Robinhood Markets in the 3rd quarter valued at approximately $29,000. Finally, Guerra Advisors Inc purchased a new position in shares of Robinhood Markets in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays lifted their price target on Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Bank of America upped their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Loop Capital set a $161.00 price objective on Robinhood Markets in a report on Monday, October 27th. Finally, CICC Research started coverage on shares of Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.15.

Robinhood Markets Company Profile

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.