Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells 12,500 Shares

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.83, for a total transaction of $222,875.00. Following the sale, the insider now directly owns 854,995 shares in the company, valued at $15,244,560.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $0.21 during mid-day trading on Tuesday, hitting $17.99. 12,391,388 shares of the company traded hands, compared to its average volume of 13,992,775. The firm’s 50 day simple moving average is $17.75 and its 200 day simple moving average is $13.31. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $20.55. The firm has a market cap of $15.73 billion, a P/E ratio of -29.98 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Equities research analysts expect that Robinhood Markets, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Robinhood Markets by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after acquiring an additional 2,459,702 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Robinhood Markets by 6.4% in the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after purchasing an additional 2,101,325 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Robinhood Markets by 9.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after purchasing an additional 2,517,012 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after buying an additional 2,486,986 shares during the period. Finally, Norges Bank purchased a new stake in Robinhood Markets during the fourth quarter valued at about $84,165,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on HOOD. KeyCorp raised their price objective on Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Morgan Stanley raised their price target on Robinhood Markets from $11.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. JMP Securities raised their price objective on shares of Robinhood Markets from $25.00 to $28.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Finally, Piper Sandler upped their target price on Robinhood Markets from $12.50 to $17.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.96.

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.