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 stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Robinhood Markets Trading Down 3.4 %

NASDAQ HOOD opened at $39.02 on Friday. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $43.83. The stock has a 50-day moving average of $34.36 and a 200 day moving average of $26.23. The stock has a market capitalization of $34.49 billion, a price-to-earnings ratio of 66.14, a PEG ratio of 0.76 and a beta of 2.09.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HOOD. Toronto Dominion Bank increased its stake in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after buying an additional 16,219 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the last quarter. Bridgewater Associates LP increased its position in shares of Robinhood Markets by 100.4% during the third quarter. Bridgewater Associates LP now owns 330,956 shares of the company’s stock worth $7,751,000 after purchasing an additional 165,791 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Robinhood Markets by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after purchasing an additional 19,345 shares during the last quarter. Finally, EULAV Asset Management lifted its holdings in Robinhood Markets by 22.2% in the 3rd quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $12,881,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on HOOD. Piper Sandler boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Needham & Company LLC reaffirmed 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. JPMorgan Chase & Co. raised 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. Barclays raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Finally, Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $24.00 to $55.00 in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.