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 at an average price of $148.34, totaling approximately $3.71 million, reducing his holdings by 4.23%.
• Robinhood Markets reported earnings of $0.42 per share, exceeding estimates, with revenue increasing by 45% year-over-year to $989 million.
• Multiple analysts have raised their price targets for Robinhood, with the consensus now at $113.59, indicating strong potential for the stock moving forward.

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 on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the completion of the transaction, the insider owned 565,949 shares in the company, valued at $83,952,874.66. The trade was a 4.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Robinhood Markets Trading Up 0.5%

NASDAQ HOOD traded up $0.74 on Tuesday, reaching $145.00. 24,825,614 shares of the company were exchanged, compared to its average volume of 42,007,242. The business's fifty day moving average price is $115.20 and its 200 day moving average price is $83.57. The stock has a market capitalization of $128.86 billion, a P/E ratio of 73.60, a price-to-earnings-growth ratio of 4.13 and a beta of 2.42. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. KeyCorp upped their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Citigroup increased their price target on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Needham & Company LLC increased their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley raised their target price on Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $113.59.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. lifted its position in Robinhood Markets by 155,600.0% in the 1st quarter. NBC Securities Inc. now owns 1,557 shares of the company's stock valued at $64,000 after purchasing an additional 1,556 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Robinhood Markets by 28.9% during the first quarter. Wedmont Private Capital now owns 12,424 shares of the company's stock valued at $543,000 after buying an additional 2,785 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Robinhood Markets by 62.9% during the first quarter. Park Avenue Securities LLC now owns 63,272 shares of the company's stock worth $2,633,000 after buying an additional 24,441 shares during the period. Farther Finance Advisors LLC grew its holdings in Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after buying an additional 265 shares in the last quarter. Finally, Requisite Capital Management LLC increased its position in Robinhood Markets by 168.2% in the 1st quarter. Requisite Capital Management LLC now owns 19,179 shares of the company's stock valued at $798,000 after acquiring an additional 12,029 shares during the period. 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.

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