Insider Selling: Robinhood Markets (NASDAQ:HOOD) Insider Sells $2,937,977.28 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 24,416 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $120.33, for a total value of $2,937,977.28. Following the completion of the transaction, the insider directly owned 77,839 shares of the company’s stock, valued at approximately $9,366,366.87. This trade represents a 23.88% decrease in their position. The transaction was disclosed in a 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.

Robinhood Markets Price Performance

HOOD traded down $2.61 on Friday, hitting $122.11. 23,666,124 shares of the stock were exchanged, compared to its average volume of 27,894,412. The firm has a market capitalization of $109.79 billion, a price-to-earnings ratio of 53.79, a PEG ratio of 2.19 and a beta of 2.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86. The business has a 50-day moving average of $102.27 and a two-hundred day moving average of $88.02.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.44 by $0.18. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The business’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Sell-side analysts forecast that Robinhood Markets, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HOOD. Barclays lowered their price target on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $124.00 to $150.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Piper Sandler reissued an “overweight” rating and issued a $145.00 target price (up from $135.00) on shares of Robinhood Markets in a report on Wednesday. Finally, Citizens Jmp restated a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a research report on Thursday, July 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $122.67.

Key Headlines Impacting Robinhood Markets

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

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its holdings in Robinhood Markets by 9,976.4% during the 2nd quarter. California State Teachers Retirement System now owns 113,132,988 shares of the company’s stock worth $11,344,976,000 after purchasing an additional 112,010,233 shares during the last quarter. State Street Corp increased its position in shares of Robinhood Markets by 103.2% during the third quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after buying an additional 16,375,734 shares during the period. Norges Bank acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $1,202,160,000. Bank of New York Mellon Corp bought a new position in Robinhood Markets during the second quarter worth $379,695,000. Finally, Amundi raised its stake in Robinhood Markets by 89.0% during the first quarter. Amundi now owns 6,385,232 shares of the company’s stock worth $442,497,000 after buying an additional 3,007,103 shares during the last quarter. 93.27% of the stock is 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.