Insider Selling: Robinhood Markets (NASDAQ:HOOD) Insider Sells $6,066,500.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $121.33, for a total transaction of $6,066,500.00. Following the transaction, the insider directly owned 480,949 shares of the company’s stock, valued at $58,353,542.17. The trade was a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Robinhood Markets Stock Up 6.1%

Shares of Robinhood Markets stock opened at $133.64 on Thursday. The stock has a market cap of $120.17 billion, a price-to-earnings ratio of 55.45, a P/E/G ratio of 2.83 and a beta of 2.43. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company’s fifty day moving average is $132.80 and its 200 day moving average is $108.76.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company earned $0.17 EPS. Robinhood Markets’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. Valley National Advisers Inc. increased its stake in Robinhood Markets by 113.6% in the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Golden State Wealth Management LLC increased its position in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Vision Financial Markets LLC raised its stake in Robinhood Markets by 100.0% during the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Robinhood Markets during the 3rd quarter worth approximately $29,000. Finally, Guerra Advisors Inc bought a new position in Robinhood Markets in the third quarter worth approximately $30,000. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HOOD has been the topic of several analyst reports. Loop Capital set a $161.00 target price on Robinhood Markets in a report on Monday, October 27th. Zacks Research raised shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. Citigroup boosted their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $136.95.

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.