Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells 50,000 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the sale, the insider now owns 706,642 shares of the company’s stock, valued at $42,942,634.34. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Robinhood Markets Trading Down 8.0 %

Shares of HOOD stock opened at $51.60 on Friday. The firm has a fifty day moving average price of $47.42 and a 200 day moving average price of $33.92. The company has a market cap of $45.61 billion, a P/E ratio of 32.87, a PEG ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a 12 month low of $13.59 and a 12 month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets in the fourth quarter valued at $26,000. HM Payson & Co. lifted its position in Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. Eastern Bank purchased a new stake in Robinhood Markets in the third quarter valued at $30,000. True Wealth Design LLC purchased a new stake in Robinhood Markets in the third quarter valued at $30,000. Finally, CoreCap Advisors LLC lifted its position in 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 acquiring an additional 550 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HOOD shares. Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Mizuho lifted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. KeyCorp lifted their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC boosted their price target on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Barclays boosted their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.53.

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.