Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $3,038,500.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was 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 directly owns 706,642 shares in the company, valued at $42,942,634.34. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Robinhood Markets Stock Down 5.4 %

Shares of HOOD stock traded down $3.17 during trading on Thursday, hitting $56.06. The company had a trading volume of 36,236,500 shares, compared to its average volume of 25,298,209. The stock’s 50-day moving average is $46.85 and its two-hundred day moving average is $33.40. The stock has a market capitalization of $49.56 billion, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 1.13 and a beta of 2.13. Robinhood Markets, Inc. has a 52 week low of $13.39 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC bought a new position in Robinhood Markets during the fourth quarter valued at approximately $26,000. HM Payson & Co. grew its position in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank bought a new position in Robinhood Markets during the third quarter valued at approximately $30,000. True Wealth Design LLC bought a new position in Robinhood Markets during the third quarter valued at approximately $30,000. Finally, CoreCap Advisors LLC grew its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup upped their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

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.