Insider Selling: Robinhood Markets (NASDAQ:HOOD) Insider Sells $3,708,500.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the transaction, the insider owned 565,949 shares of the company’s stock, valued at $83,952,874.66. This represents a 4.23% 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 Price Performance

Shares of HOOD stock opened at $152.46 on Friday. The company has a market cap of $135.49 billion, a PE ratio of 77.39, a price-to-earnings-growth ratio of 4.19 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The stock’s 50 day simple moving average is $117.92 and its two-hundred day simple moving average is $85.18.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its holdings in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares in the last quarter. Smithfield Trust Co purchased a new position in shares of Robinhood Markets in the 2nd quarter valued at approximately $29,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 2nd quarter worth approximately $34,000. V Square Quantitative Management LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth approximately $36,000. Finally, LGT Financial Advisors LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth approximately $37,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of recent analyst reports. Mizuho lifted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, June 27th. KeyCorp increased their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a research note on Thursday, July 31st. Finally, Bank of America upped their price objective on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.94.

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.