Daniel Martin Gallagher, Jr. Sells 300,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 300,000 shares of Robinhood Markets stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the sale, the insider now owns 806,955 shares of the company’s stock, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Robinhood Markets Trading Down 3.4 %

HOOD stock opened at $39.02 on Friday. The firm’s 50-day moving average price is $34.36 and its two-hundred day moving average price is $26.21. 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, Inc. has a 12-month low of $10.38 and a 12-month high of $43.83.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. 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 report on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Finally, JMP Securities increased their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $39.20.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after buying an additional 3,817,355 shares in the last quarter. Azora Capital LP purchased a new stake in Robinhood Markets in the third quarter worth approximately $79,780,000. FMR LLC lifted its holdings in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after acquiring an additional 3,368,118 shares during the period. Renaissance Technologies LLC increased its stake in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after purchasing an additional 2,094,800 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock worth $271,708,000 after buying an additional 1,895,427 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.