Daniel Martin Gallagher, Jr. Sells 50,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at approximately $42,942,634.34. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Robinhood Markets Stock Down 8.1 %

NASDAQ HOOD traded down $4.54 on Friday, reaching $51.52. 30,853,309 shares of the stock traded hands, compared to its average volume of 25,359,998. The firm's fifty day simple moving average is $47.19 and its 200 day simple moving average is $33.56. Robinhood Markets, Inc. has a 12 month low of $13.59 and a 12 month high of $66.91. The company has a market cap of $45.54 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 1.11 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on HOOD. Mizuho upped their target price on Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 7th. KeyCorp upped their price objective on Robinhood Markets from $57.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a "market outperform" rating in a research note on Thursday, February 13th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC increased their price objective on shares of Robinhood Markets from $52.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $59.53.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets in the 4th quarter worth about $26,000. HM Payson & Co. boosted its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after buying an additional 410 shares during the period. Eastern Bank purchased a new position in shares of Robinhood Markets in the third quarter worth approximately $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets during the third quarter valued at approximately $30,000. Finally, CoreCap Advisors LLC lifted its position in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.