Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $957,750.00 in Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $38.31, for a total transaction of $957,750.00. Following the transaction, the insider now directly owns 822,825 shares in the company, valued at $31,522,425.75. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Robinhood Markets Stock Up 23.5 %

Shares of HOOD opened at $42.21 on Thursday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $66.91. The stock has a market cap of $37.38 billion, a PE ratio of 26.89, a P/E/G ratio of 1.05 and a beta of 2.17. The business’s 50-day moving average price is $46.85 and its 200-day moving average price is $39.23.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC cut their target price on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Morgan Stanley downgraded Robinhood Markets from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research report on Tuesday. Barclays cut their price objective on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at $26,000. CoreCap Advisors LLC grew its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the period. Colonial Trust Co SC bought a new position in shares of Robinhood Markets during the fourth quarter valued at about $34,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after purchasing an additional 498 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.