Daniel Martin Gallagher, Jr. Sells 300,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now directly owns 806,955 shares in the company, valued at $30,268,882.05. This represents a 27.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Robinhood Markets Stock Performance

Shares of HOOD stock traded down $1.36 on Friday, reaching $39.02. 14,331,143 shares of the company were exchanged, compared to its average volume of 17,037,754. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $43.83. The business has a 50-day moving average price of $34.11 and a 200 day moving average price of $26.10. The company has a market cap of $34.49 billion, a price-to-earnings ratio of 66.14, a P/E/G ratio of 0.76 and a beta of 2.09.

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

Institutional Trading of Robinhood Markets

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HOOD shares. Piper Sandler upped their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $24.00 to $55.00 in a research note on Monday, November 25th. Finally, Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $26.00 to $49.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.20.

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.