Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $545,522.06 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 23,293 shares of Robinhood Markets stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the transaction, the insider now owns 1,070,000 shares in the company, valued at approximately $25,059,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Robinhood Markets Stock Up 2.1 %

Robinhood Markets stock opened at $22.89 on Friday. The company’s 50-day moving average price is $20.53 and its 200-day moving average price is $20.31. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $24.88. The company has a market cap of $20.12 billion, a PE ratio of 152.60 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same period in the previous year, the firm posted $0.03 EPS. The business’s quarterly revenue was up 40.3% on a year-over-year basis. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup lifted their target price on shares of 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. lifted their target price on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.63.

Institutional Trading of Robinhood Markets

A number of large investors have recently made changes to their positions in HOOD. Renaissance Technologies LLC increased its holdings in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after buying an additional 2,094,800 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Robinhood Markets by 169.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after purchasing an additional 1,251,495 shares during the last quarter. AQR Capital Management LLC grew its holdings in Robinhood Markets by 274.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after purchasing an additional 1,218,317 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Robinhood Markets by 7,622.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,040,877 shares of the company’s stock valued at $23,625,000 after purchasing an additional 1,027,398 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Robinhood Markets by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares during the last quarter. 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.