Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $2,605,750.00 in Stock

Key Points

• Daniel Martin Gallagher, Jr., an insider at Robinhood Markets, sold 25,000 shares at an average price of $104.23, resulting in a total transaction of over $2.6 million, decreasing his position by 4.22%.
• Robinhood reported strong quarterly earnings with $0.42 earnings per share, exceeding estimates, and a revenue increase of 45% year over year, reaching $989 million.
• Analysts have a consensus rating of "Moderate Buy" for Robinhood, with target price adjustments ranging from $85 to $120 following recent positive performance and stock evaluations.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $104.23, for a total value of $2,605,750.00. Following the transaction, the insider owned 566,887 shares of the company's stock, valued at $59,086,632.01. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Robinhood Markets Stock Up 3.8%

Shares of HOOD traded up $4.26 during mid-day trading on Friday, reaching $115.49. The company had a trading volume of 34,158,654 shares, compared to its average volume of 41,809,371. Robinhood Markets, Inc. has a 52-week low of $17.55 and a 52-week high of $117.00. The stock has a market capitalization of $102.26 billion, a P/E ratio of 58.40, a PEG ratio of 4.03 and a beta of 2.36. The stock has a 50 day moving average of $90.33 and a two-hundred day moving average of $63.55.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company's revenue was up 45.0% compared to the same quarter last year. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Needham & Company LLC raised their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Morgan Stanley raised their price target on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.29.

Institutional Trading of Robinhood Markets

A number of hedge funds have recently modified their holdings of HOOD. Whipplewood Advisors LLC boosted its stake in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock worth $25,000 after buying an additional 148 shares during the last quarter. Hemington Wealth Management raised its holdings in 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. Smithfield Trust Co acquired a new position in Robinhood Markets in the 2nd quarter worth about $29,000. Finally, Wayfinding Financial LLC acquired a new position in Robinhood Markets in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Company Profile

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.