Robinhood Markets, Inc. (NASDAQ:HOOD) Insider Sells $1,290,000.00 in Stock

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

Robinhood Markets Trading Up 5.1 %

Shares of HOOD opened at $55.86 on Friday. The company’s 50-day moving average price is $43.49 and its 200 day moving average price is $31.13. Robinhood Markets, Inc. has a 12-month low of $11.00 and a 12-month high of $55.98. The firm has a market cap of $49.38 billion, a P/E ratio of 94.68, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13.

Institutional Trading of Robinhood Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC acquired a new position in Robinhood Markets during the 4th quarter worth about $26,000. Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets during the fourth quarter worth about $37,000. Bogart Wealth LLC purchased a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $37,000. Spire Wealth Management boosted its stake in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Robinhood Markets by 130.7% in the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock valued at $42,000 after purchasing an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Raymond James began coverage on Robinhood Markets in a report on Wednesday. They issued a “market perform” rating on the stock. JMP Securities lifted their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Citigroup raised their price objective on Robinhood Markets from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $46.67.

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.