Daniel Martin Gallagher, Jr. Sells 23,293 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the transaction, the insider now owns 1,070,000 shares of the company’s stock, valued at approximately $25,059,400. The sale was disclosed in a filing with the SEC, which is available at this link.

Robinhood Markets Stock Up 1.3 %

Shares of HOOD traded up $0.30 on Wednesday, reaching $22.63. The stock had a trading volume of 11,990,228 shares, compared to its average volume of 15,490,839. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $24.88. The firm has a market capitalization of $19.89 billion, a PE ratio of 150.87 and a beta of 1.82. The firm has a 50-day moving average of $20.50 and a 200 day moving average of $20.30.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 earnings per share. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. ORG Partners LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at $33,000. Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets in the first quarter valued at $34,000. International Assets Investment Management LLC purchased a new position in Robinhood Markets during the second quarter worth about $40,000. Opal Wealth Advisors LLC acquired a new stake in Robinhood Markets in the 2nd quarter worth about $45,000. Finally, PNC Financial Services Group Inc. grew its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley increased their price objective on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Barclays upgraded shares of Robinhood Markets from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Finally, Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.63.

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.