Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Daniel Martin Gallagher, Jr. Sells 300,000 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total transaction of $11,253,000.00. Following the completion of the transaction, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Robinhood Markets Trading Down 3.4 %

NASDAQ:HOOD traded down $1.36 during trading hours on Friday, reaching $39.02. 14,331,143 shares of the company traded hands, compared to its average volume of 17,037,754. The business's 50-day moving average price is $34.36 and its two-hundred day moving average price is $26.21. Robinhood Markets, Inc. has a 1 year low of $10.38 and a 1 year high of $43.83. The stock has a market capitalization of $34.49 billion, a P/E ratio of 66.14, a P/E/G ratio of 0.76 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. During the same period in the prior year, the firm earned ($0.09) EPS. Robinhood Markets's revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HOOD. Raymond James & Associates increased its holdings in shares of Robinhood Markets by 28.6% in the 2nd quarter. Raymond James & Associates now owns 56,203 shares of the company's stock worth $1,276,000 after purchasing an additional 12,512 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Robinhood Markets by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company's stock worth $54,749,000 after buying an additional 193,585 shares in the last quarter. Whittier Trust Co. raised its position in Robinhood Markets by 39.8% in the 2nd quarter. Whittier Trust Co. now owns 8,145 shares of the company's stock worth $185,000 after buying an additional 2,317 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Robinhood Markets by 6.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 242,366 shares of the company's stock valued at $5,504,000 after acquiring an additional 14,445 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Robinhood Markets by 34.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 47,653 shares of the company's stock valued at $1,082,000 after acquiring an additional 12,306 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HOOD has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an "underweight" rating in a research report on Thursday, October 17th. Barclays upgraded Robinhood Markets from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $26.00 to $49.00 in a report on Monday, December 9th. Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.20.

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.