Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Steven M. Quirk Sells 123,272 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 123,272 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares in the company, valued at approximately $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $45.92 on Wednesday. The stock’s 50 day moving average price is $47.64 and its 200 day moving average price is $34.46. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91. The company has a market cap of $40.59 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

HOOD has been the subject of a number of recent research reports. Barclays increased their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating for the company. Piper Sandler boosted their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. KeyCorp upped their price objective on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Institutional Trading of Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in HOOD. Creative Planning lifted its position in shares of Robinhood Markets by 34.6% during the 3rd quarter. Creative Planning now owns 35,384 shares of the company’s stock valued at $829,000 after acquiring an additional 9,094 shares during the period. Raymond James & Associates increased its stake in Robinhood Markets by 76.6% in the 3rd quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock valued at $2,325,000 after purchasing an additional 43,075 shares in the last quarter. Signaturefd LLC raised its holdings in Robinhood Markets by 16.5% during the third quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after purchasing an additional 487 shares during the last quarter. Private Advisor Group LLC raised its holdings in Robinhood Markets by 3.2% during the third quarter. Private Advisor Group LLC now owns 84,777 shares of the company’s stock worth $1,985,000 after purchasing an additional 2,644 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Robinhood Markets by 301.5% during the third quarter. International Assets Investment Management LLC now owns 7,026 shares of the company’s stock worth $165,000 after purchasing an additional 5,276 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.