Insider Selling: Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells 25,000 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now owns 706,642 shares in the company, valued at $36,462,727.20. This represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD traded up $1.62 during mid-day trading on Wednesday, hitting $54.20. The stock had a trading volume of 16,609,957 shares, compared to its average volume of 20,669,109. The business has a 50 day moving average price of $42.49 and a two-hundred day moving average price of $30.59. Robinhood Markets, Inc. has a 1 year low of $10.53 and a 1 year high of $54.33. The firm has a market cap of $47.91 billion, a P/E ratio of 91.87, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank increased its holdings in Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the period. Everence Capital Management Inc. bought a new position in Robinhood Markets in the 4th quarter worth $634,000. Atomi Financial Group Inc. lifted its position in shares of Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock worth $20,154,000 after purchasing an additional 92,613 shares during the period. Requisite Capital Management LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at about $266,000. Finally, Baker Avenue Asset Management LP raised its stake in Robinhood Markets by 77.9% in the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after buying an additional 203,354 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. JMP Securities lifted their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 12th. Raymond James began coverage on Robinhood Markets in a research note on Wednesday. They issued a “market perform” rating on the stock. Finally, Barclays lifted their price target on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.73.

Robinhood Markets Company Profile

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.