Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $1,225,500.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $49.02, for a total value of $1,225,500.00. Following the transaction, the insider now owns 822,893 shares in the company, valued at approximately $40,338,214.86. The trade was a 2.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Robinhood Markets Stock Up 4.1 %

NASDAQ HOOD traded up $1.90 during trading hours on Wednesday, hitting $48.12. 33,673,053 shares of the company were exchanged, compared to its average volume of 29,885,578. The firm has a market cap of $42.61 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.05 and a beta of 2.13. The company has a 50 day moving average of $48.67 and a two-hundred day moving average of $35.48. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (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 research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on HOOD. Mizuho lifted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. KeyCorp raised their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Barclays upped their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $59.53.

Institutional Trading of Robinhood Markets

Institutional investors have recently bought and sold shares of the business. FMR LLC increased its stake in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Newlands Management Operations LLC raised its position in Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock valued at $900,159,000 after purchasing an additional 273,860 shares during the last quarter. State Street Corp lifted its position in Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after acquiring an additional 1,085,679 shares during the period. Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after purchasing an additional 555,299 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after buying an additional 3,091,514 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other 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.