Daniel Martin Gallagher, Jr. Sells 100,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the transaction, the insider now owns 731,642 shares in the company, valued at $29,594,918.90. This represents a 12.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded down $2.15 during trading on Tuesday, hitting $40.56. The company’s stock had a trading volume of 17,600,861 shares, compared to its average volume of 19,696,400. The stock has a market cap of $35.85 billion, a price-to-earnings ratio of 68.75, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07. The stock has a 50-day moving average price of $35.82 and a two-hundred day moving average price of $26.97. Robinhood Markets, Inc. has a 52 week low of $10.38 and a 52 week high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last released its 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). The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Trading of Robinhood Markets

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in Robinhood Markets by 141.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 111,316 shares of the company’s stock worth $2,528,000 after buying an additional 65,215 shares during the last quarter. Natixis Advisors LLC purchased a new position in Robinhood Markets during the 2nd quarter valued at about $536,000. Rhumbline Advisers grew its stake in shares of Robinhood Markets by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 712,848 shares of the company’s stock worth $16,189,000 after buying an additional 28,574 shares during the last quarter. TD Asset Management Inc grew its position in Robinhood Markets by 1,653.4% during the 2nd quarter. TD Asset Management Inc now owns 613,706 shares of the company’s stock valued at $13,937,000 after purchasing an additional 578,706 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Robinhood Markets by 9.6% in the 2nd quarter. Victory Capital Management Inc. now owns 63,337 shares of the company’s stock valued at $1,438,000 after acquiring an additional 5,534 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HOOD shares. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. JPMorgan Chase & Co. raised Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $20.00 to $43.00 in a research note on Tuesday. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target 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.