Robinhood Markets, Inc. (NASDAQ:HOOD – Get Free Report)’s stock price traded down 2.1% during trading on Friday following insider selling activity. The company traded as low as $119.82 and last traded at $122.11. 23,607,239 shares were traded during mid-day trading, a decline of 15% from the average session volume of 27,893,854 shares. The stock had previously closed at $124.72.
Specifically, insider Daniel Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $122.43, for a total transaction of $1,224,300.00. Following the completion of the transaction, the insider directly owned 509,943 shares of the company’s stock, valued at $62,432,321.49. This trade represents a 1.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Quirk sold 24,416 shares of Robinhood Markets stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $120.33, for a total transaction of $2,937,977.28. Following the completion of the sale, the insider owned 77,839 shares in the company, valued at $9,366,366.87. This trade represents a 23.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Analyst Upgrades and Downgrades
HOOD has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of Robinhood Markets from $137.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. China Renaissance started coverage on shares of Robinhood Markets in a research report on Tuesday, July 7th. They set a “buy” rating on the stock. Barclays reduced their price objective on shares of Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Cantor Fitzgerald lowered their target price on Robinhood Markets from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.67.
More Robinhood Markets News
Here are the key news stories impacting Robinhood Markets this week:
- Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
- Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
- Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million
Robinhood Markets Price Performance
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 company’s 50-day simple moving average is $102.73 and its 200-day simple moving average is $88.26. The stock has a market capitalization of $109.79 billion, a P/E ratio of 53.79, a price-to-earnings-growth ratio of 2.50 and a beta of 2.34.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The company’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 2.09 EPS for the current fiscal year.
Institutional Investors Weigh In On Robinhood Markets
Several hedge funds have recently bought and sold shares of HOOD. CYBER HORNET ETFs LLC grew its holdings in Robinhood Markets by 527.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the period. Elyxium Wealth LLC bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $27,000. MV Capital Management Inc. acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $27,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Robinhood Markets in the second quarter valued at approximately $27,000. Finally, Swiss RE Ltd. bought a new position in shares of Robinhood Markets during the 4th quarter worth approximately $27,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
- Five stocks we like better than Robinhood Markets
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.
