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 the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the transaction, the insider now directly owns 806,955 shares of the company’s stock, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $39.02 on Friday. The stock has a market cap of $34.49 billion, a price-to-earnings ratio of 66.14, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The firm has a 50-day moving average of $34.36 and a two-hundred day moving average of $26.23. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $43.83.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on HOOD shares. Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Morgan Stanley raised Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $24.00 to $55.00 in a research report on Monday, November 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.20.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently made changes to their positions in the company. HM Payson & Co. increased its position in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. Eastern Bank bought a new position in shares of Robinhood Markets during the third quarter valued at approximately $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new position in Robinhood Markets in the third quarter worth approximately $33,000. Finally, International Assets Investment Management LLC purchased a new stake in Robinhood Markets during the second quarter worth $40,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.