Steven M. Quirk Sells 24,311 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven M. Quirk sold 24,311 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $54.93, for a total value of $1,335,403.23. Following the sale, the insider now directly owns 299,349 shares of the company’s stock, valued at $16,443,240.57. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Robinhood Markets Stock Performance

Shares of HOOD opened at $61.39 on Thursday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The business’s 50 day moving average price is $44.26 and its two-hundred day moving average price is $43.08. The firm has a market cap of $54.36 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The company’s revenue was up 50.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. Research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Mizuho increased their target price on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Cantor Fitzgerald cut their price objective on Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Citigroup cut their price objective on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Needham & Company LLC increased their price target on Robinhood Markets from $58.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, KeyCorp dropped their price target on Robinhood Markets from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.41.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC lifted its position in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management increased its stake in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets in the 4th quarter worth about $26,000. Wayfinding Financial LLC bought a new position in Robinhood Markets in the 1st quarter worth about $30,000. Finally, Pandora Wealth Inc. bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $33,000. Institutional investors own 93.27% of the company’s stock.

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.