Daniel Martin Gallagher, Jr. Sells 10,000 Shares of Robinhood Markets (NASDAQ:HOOD) Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $122.43, for a total transaction of $1,224,300.00. Following the sale, the insider directly owned 509,943 shares in the company, valued at approximately $62,432,321.49. The trade was a 1.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robinhood Markets Trading Down 2.1%

HOOD opened at $122.11 on Friday. The stock has a market capitalization of $109.79 billion, a PE ratio of 53.79, a P/E/G ratio of 2.50 and a beta of 2.34. Robinhood Markets, Inc. has a one year low of $63.51 and a one year high of $153.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50 day moving average price is $102.73 and its 200 day moving average price is $88.26.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 2.09 EPS for the current year.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
• Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
• Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million

Analyst Ratings Changes

Several analysts recently issued reports on HOOD shares. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a report on Thursday, May 28th. Sanford C. Bernstein lifted their price target on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Morgan Stanley raised shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $124.00 to $150.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.67.

Institutional Trading of Robinhood Markets

A number of large investors have recently modified their holdings of HOOD. CYBER HORNET ETFs LLC boosted its holdings in Robinhood Markets by 527.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the period. Elyxium Wealth LLC purchased a new stake in Robinhood Markets during the 4th quarter worth about $27,000. MV Capital Management Inc. purchased a new stake in Robinhood Markets during the 4th quarter worth about $27,000. C M Bidwell & Associates Ltd. acquired a new stake in Robinhood Markets in the 2nd quarter valued at about $27,000. Finally, Swiss RE Ltd. purchased a new position in shares of Robinhood Markets in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.