Insider Selling: Robinhood Markets (NASDAQ:HOOD) Insider Sells $15,855,600.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total value of $15,855,600.00. Following the transaction, the insider directly owned 430,012 shares of the company’s stock, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Robinhood Markets Trading Down 3.7%

HOOD opened at $131.95 on Monday. The company’s 50 day moving average is $133.29 and its 200-day moving average is $110.06. Robinhood Markets, Inc. has a 1-year low of $29.66 and a 1-year high of $153.86. The company has a market cap of $118.65 billion, a P/E ratio of 54.75, a PEG ratio of 2.97 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. Citigroup increased their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Zacks Research raised Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Monday, December 1st. Finally, Citizens Jmp raised their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.95.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its position in Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares during the period. Hemington Wealth Management lifted its position in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Robinhood Markets by 107.6% during the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the period. Finally, Smithfield Trust Co bought a new position in Robinhood Markets during the second quarter worth $29,000. 93.27% of the stock is currently owned by 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.