Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $11,253,000.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the transaction, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $39.02 on Monday. The business’s fifty day moving average price is $34.36 and its two-hundred day moving average price is $26.23. The stock has a market cap of $34.49 billion, a PE ratio of 66.14, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. Robinhood Markets, Inc. has a one year low of $10.38 and a one year high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period in the previous year, the business earned ($0.09) EPS. The firm’s revenue was up 36.4% on a year-over-year basis. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Piper Sandler raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price target 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. Finally, The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $46.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.20.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of the company. HM Payson & Co. lifted its stake in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the period. Eastern Bank purchased a new position in shares of Robinhood Markets during the 3rd quarter worth $30,000. True Wealth Design LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter worth $30,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets during the third quarter worth $33,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Robinhood Markets in the second quarter valued at $40,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.