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

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

Specifically, Director Baiju Bhatt sold 50,317 shares of Robinhood Markets stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $96.80, for a total transaction of $4,870,685.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HOOD shares. Keefe, Bruyette & Woods decreased their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a research note on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a report on Thursday, July 2nd. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $155.00 price objective on shares of Robinhood Markets in a report on Thursday, July 30th. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.52.

Robinhood Markets Price Performance

The company has a 50 day moving average of $100.32 and a two-hundred day moving average of $86.23. The firm has a market cap of $82.29 billion, a P/E ratio of 40.32, a PEG ratio of 1.87 and a beta of 2.35. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

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

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently made changes to their positions in HOOD. CYBER HORNET ETFs LLC raised its holdings in shares of Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Robinhood Markets during the fourth quarter worth approximately $27,000. MV Capital Management Inc. acquired a new position in Robinhood Markets in the fourth quarter worth approximately $27,000. C M Bidwell & Associates Ltd. bought a new position in shares of Robinhood Markets in the second quarter valued at $27,000. Finally, Swiss RE Ltd. bought a new position in shares of Robinhood Markets in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

About Robinhood Markets

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.