Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Daniel Martin Gallagher, Jr. Sells 50,000 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares of the company’s stock, valued at approximately $42,942,634.34. This trade represents a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Robinhood Markets Trading Down 5.4 %

NASDAQ HOOD traded down $3.17 during mid-day trading on Thursday, hitting $56.06. The company’s stock had a trading volume of 36,236,500 shares, compared to its average volume of 25,298,209. The company’s 50 day simple moving average is $46.85 and its 200 day simple moving average is $33.40. Robinhood Markets, Inc. has a twelve month low of $13.39 and a twelve month high of $66.91. The firm has a market capitalization of $49.56 billion, a price-to-earnings ratio of 35.71, a PEG ratio of 1.13 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HOOD. Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. KeyCorp raised their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday. Finally, Morgan Stanley raised their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.53.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after acquiring an additional 16,219 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Robinhood Markets during the 4th quarter worth $634,000. Atomi Financial Group Inc. boosted its holdings in Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after acquiring an additional 92,613 shares during the last quarter. Requisite Capital Management LLC purchased a new position in Robinhood Markets during the 4th quarter worth $266,000. Finally, Baker Avenue Asset Management LP boosted its holdings in Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 shares during the last quarter. 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.