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 company’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $39.02 on Monday. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $43.83. The company has a market capitalization 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’s fifty day moving average price is $34.36 and its 200 day moving average price is $26.23.

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

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $24.00 to $55.00 in a research note on Monday, November 25th. JMP Securities lifted their price objective on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Citigroup increased their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, Sanford C. Bernstein lifted their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.20.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in HOOD. Garden State Investment Advisory Services LLC acquired a new stake in Robinhood Markets in the third quarter valued at $263,000. Franklin Resources Inc. bought a new stake in shares of Robinhood Markets in the 3rd quarter worth about $6,321,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Robinhood Markets in the 3rd quarter worth about $351,000. Sanctuary Advisors LLC raised its stake in shares of Robinhood Markets by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 63,216 shares of the company’s stock valued at $1,481,000 after purchasing an additional 19,345 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares during the last quarter. 93.27% of the stock is currently 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.