Insider Selling: Robinhood Markets (NASDAQ:HOOD) CTO Sells $861,480.24 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $146.91, for a total transaction of $861,480.24. Following the sale, the chief technology officer owned 6,088 shares of the company’s stock, valued at approximately $894,388.08. The trade was a 49.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Jeffrey Tsvi Pinner also recently made the following trade(s):

• On Monday, October 6th, Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock. The shares were sold at an average price of $147.53, for a total transaction of $865,115.92.
• On Monday, September 22nd, Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock. The shares were sold at an average price of $124.13, for a total transaction of $727,898.32.
• On Friday, September 5th, Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock. The shares were sold at an average price of $99.83, for a total transaction of $585,502.95.

Robinhood Markets Stock Up 6.3%

Shares of HOOD stock opened at $146.78 on Friday. The stock has a market cap of $130.44 billion, a PE ratio of 74.51, a price-to-earnings-growth ratio of 3.58 and a beta of 2.42. The business has a 50-day simple moving average of $126.98 and a 200-day simple moving average of $96.23. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Valley National Advisers Inc. raised its position in shares of 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 purchasing an additional 100 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Robinhood Markets by 44.9% during the third quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares during the last quarter. Smithfield Trust Co acquired a new position in shares of Robinhood Markets during the second quarter valued at approximately $29,000. Finally, Security National Bank acquired a new position in shares of Robinhood Markets during the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Bank of America raised their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Finally, Citigroup upped their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $125.10.

About Robinhood Markets

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.