Robinhood Markets (NASDAQ:HOOD) Insider Sells $1,215,800.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.58, for a total value of $1,215,800.00. Following the completion of the sale, the insider directly owned 403,612 shares of the company’s stock, valued at $49,071,146.96. The trade was a 2.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Robinhood Markets Trading Down 3.9%

HOOD traded down $4.73 during mid-day trading on Wednesday, hitting $116.97. 18,787,416 shares of the stock were exchanged, compared to its average volume of 22,517,914. The firm’s fifty day moving average is $124.96 and its two-hundred day moving average is $117.78. Robinhood Markets, Inc. has a 1-year low of $29.66 and a 1-year high of $153.86. The company has a market cap of $105.18 billion, a PE ratio of 48.54, a PEG ratio of 1.87 and a beta of 2.44.

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

Institutional Trading of Robinhood Markets

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Robinhood Markets by 24.9% in the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after acquiring an additional 18,824,923 shares during the period. State Street Corp grew its position in Robinhood Markets by 103.2% during the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock worth $4,617,004,000 after purchasing an additional 16,375,734 shares during the last quarter. WCM Investment Management LLC increased its stake in Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Norges Bank purchased a new stake in shares of Robinhood Markets in the second quarter valued at about $973,122,000. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth about $951,479,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HOOD shares. Truist Financial began coverage on shares of Robinhood Markets in a research report on Wednesday, December 17th. They issued a “buy” rating and a $155.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a research note on Thursday, November 6th. KeyCorp lifted their target price on Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Cantor Fitzgerald cut their price target on Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. Finally, Mizuho increased their price target on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.80.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.