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

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

Robinhood Markets Trading Down 8.0 %

Shares of HOOD opened at $45.92 on Wednesday. The stock’s fifty day simple moving average is $47.64 and its 200 day simple moving average is $34.46. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The firm has a market capitalization of $40.59 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors have recently bought and sold shares of HOOD. Ameriflex Group Inc. purchased a new position in shares of Robinhood Markets in the 4th quarter valued at $48,000. GF Fund Management CO. LTD. purchased a new position in Robinhood Markets in the fourth quarter valued at about $2,944,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Robinhood Markets during the fourth quarter worth about $182,000. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $1,751,000. Finally, Castleark Management LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $839,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Mizuho boosted their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. KeyCorp increased 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. Piper Sandler lifted their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

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.