Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells 100,000 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the sale, the insider now owns 731,642 shares in the company, valued at approximately $29,594,918.90. The trade was a 12.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Robinhood Markets Trading Up 0.6 %

Shares of NASDAQ HOOD opened at $40.81 on Friday. The stock’s 50-day moving average is $36.67 and its 200 day moving average is $27.29. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 69.17, a P/E/G ratio of 0.81 and a beta of 2.07. Robinhood Markets, Inc. has a 1-year low of $10.38 and a 1-year high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the business posted ($0.09) earnings per share. The company’s revenue was up 36.4% compared to the same quarter last year. On average, analysts forecast that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the period. Azora Capital LP bought a new position in Robinhood Markets during the 3rd quarter worth approximately $79,780,000. FMR LLC increased its stake in Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the period. Renaissance Technologies LLC lifted its position in Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Robinhood Markets by 19.5% during the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HOOD shares. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $24.00 to $55.00 in a research note on Monday, November 25th. KeyCorp increased their target price on shares of Robinhood Markets from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $40.67.

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.