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

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the 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 sale, the insider directly owned 509,943 shares of the company’s stock, valued at $62,432,321.49. The trade was a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robinhood Markets Stock Down 2.1%

Shares of HOOD stock traded down $2.61 during mid-day trading on Friday, reaching $122.11. 23,666,124 shares of the company’s stock traded hands, compared to its average volume of 27,894,412. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $102.27 and its 200-day moving average price is $88.02. Robinhood Markets, Inc. has a 12 month low of $63.51 and a 12 month high of $153.86. The company has a market cap of $109.79 billion, a P/E ratio of 53.79, a P/E/G ratio of 2.19 and a beta of 2.34.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share 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 firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s revenue was up 32.5% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several analyst reports. Argus upped their price target on shares of Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Mizuho boosted their target price on Robinhood Markets from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded Robinhood Markets from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Sanford C. Bernstein upped their price objective on Robinhood Markets from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Finally, Cantor Fitzgerald cut their price target on shares of Robinhood Markets from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Twenty-three investment analysts have rated the stock with a Buy rating and four have given 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HOOD. Parkside Financial Bank & Trust raised its stake 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 buying an additional 116 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Robinhood Markets by 2.8% during the fourth quarter. Sivia Capital Partners LLC now owns 4,310 shares of the company’s stock worth $487,000 after acquiring an additional 117 shares during the last quarter. Constant Guidance Financial LLC lifted its stake 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 worth $291,000 after purchasing an additional 129 shares during the period. MCF Advisors LLC increased its stake in Robinhood Markets by 52.6% in the fourth quarter. MCF Advisors LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 130 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in shares of Robinhood Markets by 5.7% in the 4th quarter. Integrated Advisors Network LLC now owns 2,494 shares of the company’s stock valued at $282,000 after purchasing an additional 135 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting 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

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.