Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $22,493,250.00 in Stock

Key Points

• Insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets, Inc. for a total of $22,493,250, resulting in a 27.54% decrease in his position.
• Following the transaction, Gallagher retains 591,887 shares valued at approximately $59.17 million.
• Robinhood Markets reported a 45% increase in year-over-year revenue, with earnings per share (EPS) of $0.42, exceeding expectations.

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the sale, the insider directly owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. This represents a 27.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Robinhood Markets Stock Down 0.9%

NASDAQ HOOD traded down $0.91 during trading hours on Tuesday, hitting $105.46. 33,331,407 shares of the company were exchanged, compared to its average volume of 41,908,605. The firm has a market cap of $93.38 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 4.59 and a beta of 2.36. The company has a 50 day moving average of $87.78 and a two-hundred day moving average of $62.52. Robinhood Markets, Inc. has a 52-week low of $16.25 and a 52-week high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS 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 company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same quarter in the previous year, the business posted $0.21 EPS. The firm's revenue was up 45.0% on a year-over-year basis. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently bought and sold shares of the business. Whipplewood Advisors LLC boosted its stake in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. Hantz Financial Services Inc. increased its position in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock valued at $25,000 after acquiring an additional 148 shares during the period. Hemington Wealth Management raised its stake in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Robinhood Markets during the 1st quarter worth approximately $30,000. Finally, CoreCap Advisors LLC increased its holdings in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HOOD shares. Cantor Fitzgerald boosted their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Barclays increased their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

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.