Insider Selling: Robinhood Markets (NASDAQ:HOOD) Insider Sells 10,000 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $112.98, for a total transaction of $1,129,800.00. Following the completion of the transaction, the insider owned 530,949 shares of the company’s stock, valued at approximately $59,986,618.02. This trade represents a 1.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Robinhood Markets Price Performance

HOOD stock traded up $12.63 during trading on Wednesday, hitting $128.20. The stock had a trading volume of 47,016,071 shares, compared to its average volume of 39,931,660. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company’s 50-day moving average price is $132.29 and its two-hundred day moving average price is $106.26. The stock has a market capitalization of $115.28 billion, a P/E ratio of 53.20, a PEG ratio of 2.58 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group increased their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. JMP Securities boosted their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Compass Point restated a “buy” rating on shares of Robinhood Markets in a research note on Monday, October 27th. Finally, CICC Research assumed coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 target price on the stock. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.95.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently modified their holdings of HOOD. Hantz Financial Services Inc. grew its stake in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares in the last quarter. Hemington Wealth Management boosted its position in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Finally, Smithfield Trust Co acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth about $29,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.