Daniel Martin Gallagher Jr Sells 25,000 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Key Points

• Daniel Martin Gallagher Jr. sold 25,000 shares of Robinhood Markets stock for approximately $2.5 million, resulting in a 3.93% decrease in his position.
• Robinhood Markets reported a 45% increase in revenue year-over-year for the last quarter, achieving $989 million in revenue, surpassing analyst expectations.
• Institutional investors hold over 93% of Robinhood's stock, with significant increases in holdings by firms like Centaurus Financial and Thrivent Financial during the second quarter.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the completion of the sale, the insider directly owned 610,949 shares of the company's stock, valued at $61,656,973.08. The trade was a 3.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Robinhood Markets Trading Down 1.6%

Shares of HOOD traded down $1.66 during mid-day trading on Friday, hitting $101.25. The company's stock had a trading volume of 60,005,141 shares, compared to its average volume of 41,308,566. The company's 50-day moving average is $103.35 and its 200-day moving average is $70.95. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70. The firm has a market capitalization of $89.98 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 3.69 and a beta of 2.36.

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

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. raised its holdings in Robinhood Markets by 34.2% in the 2nd quarter. Centaurus Financial Inc. now owns 12,791 shares of the company's stock valued at $1,198,000 after buying an additional 3,259 shares during the period. Orion Porfolio Solutions LLC increased its position in shares of Robinhood Markets by 39.7% during the second quarter. Orion Porfolio Solutions LLC now owns 26,182 shares of the company's stock valued at $2,451,000 after acquiring an additional 7,443 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Robinhood Markets by 462.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,192,890 shares of the company's stock valued at $111,537,000 after acquiring an additional 980,868 shares during the period. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Robinhood Markets in the 2nd quarter worth approximately $238,000. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Robinhood Markets by 2,520.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 6,550 shares of the company's stock worth $613,000 after purchasing an additional 6,300 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on HOOD shares. Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. KeyCorp raised their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Citigroup boosted their price objective on Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Piper Sandler lifted their price target on Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.