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

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

Robinhood Markets Price Performance

NASDAQ:HOOD traded up $0.21 during mid-day trading on Tuesday, hitting $17.99. 12,391,388 shares of the company’s stock were exchanged, compared to its average volume of 13,992,775. The company has a market cap of $15.73 billion, a PE ratio of -29.98 and a beta of 1.74. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $20.55. The business has a fifty day moving average price of $17.75 and a 200 day moving average price of $13.31.

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

Analyst Ratings Changes

HOOD has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Barclays raised their price objective on shares of Robinhood Markets from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. JMP Securities boosted their target price on shares of Robinhood Markets from $25.00 to $28.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Sanford C. Bernstein began coverage on shares of Robinhood Markets in a research report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Monday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.96.

Hedge Funds Weigh In On Robinhood Markets

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Robinhood Markets by 62.5% in the 1st quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock worth $5,711,000 after buying an additional 109,059 shares during the period. Empowered Funds LLC purchased a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $262,000. Deuterium Capital Management LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at approximately $252,000. Quantbot Technologies LP purchased a new position in shares of Robinhood Markets in the first quarter valued at $521,000. Finally, Duality Advisers LP bought a new stake in Robinhood Markets in the first quarter worth $3,364,000. 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.