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

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction 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 transaction, the insider owned 509,943 shares in the company, valued at $62,432,321.49. The trade was a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robinhood Markets Stock Down 2.1%

Shares of NASDAQ:HOOD traded down $2.61 during trading on Friday, hitting $122.11. The company’s stock had a trading volume of 23,666,124 shares, compared to its average volume of 27,894,412. The company has a market capitalization of $109.79 billion, a PE ratio of 53.79, a PEG ratio of 2.19 and a beta of 2.34. 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 stock’s 50-day moving average price is $102.27 and its two-hundred day moving average price is $88.02. Robinhood Markets, Inc. has a fifty-two week low of $63.51 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. Robinhood Markets’s revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 2.08 EPS for the current year.

Key Robinhood Markets News

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

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust boosted its position in shares of Robinhood Markets by 11.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,089 shares of the company’s stock worth $109,000 after acquiring an additional 116 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Robinhood Markets by 2.8% in the 4th quarter. Sivia Capital Partners LLC now owns 4,310 shares of the company’s stock valued at $487,000 after purchasing an additional 117 shares during the period. Constant Guidance Financial LLC grew its position in shares of Robinhood Markets by 5.3% during the 4th quarter. Constant Guidance Financial LLC now owns 2,571 shares of the company’s stock valued at $291,000 after acquiring an additional 129 shares during the period. MCF Advisors LLC boosted its position in Robinhood Markets by 52.6% during the fourth quarter. MCF Advisors LLC now owns 377 shares of the company’s stock worth $43,000 after purchasing an additional 130 shares during the period. Finally, Integrated Advisors Network LLC lifted its position in shares of Robinhood Markets by 5.7% during the fourth quarter. Integrated Advisors Network LLC now owns 2,494 shares of the company’s stock worth $282,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HOOD shares. Citigroup reaffirmed a “market outperform” rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. The Goldman Sachs Group lowered their price objective on Robinhood Markets from $137.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Cantor Fitzgerald lowered their price objective on Robinhood Markets from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.67.

About Robinhood Markets

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.