Key Points
- Robinhood insider Daniel Martin Gallagher Jr. sold 10,000 shares at an average price of $122.43, generating $1.22 million. The transaction occurred under a pre-arranged Rule 10b5-1 plan, leaving him with 509,943 shares.
- Robinhood reported stronger-than-expected quarterly results, with EPS of $0.62 versus the $0.44 consensus estimate and revenue of $1.31 billion, up 32.5% year over year.
- Analyst sentiment remains favorable, with 23 “Buy” ratings and four “Hold” ratings producing a “Moderate Buy” consensus; price targets include $145 from Piper Sandler and $160 from Bernstein.
Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $122.43, for a total value of $1,224,300.00. Following the sale, the insider owned 509,943 shares of the company's stock, valued at approximately $62,432,321.49. This represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Robinhood Markets Price Performance
Shares of NASDAQ:HOOD opened at $122.11 on Friday. The firm's 50 day moving average price is $102.73 and its 200-day moving average price is $88.26. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. 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 stock has a market capitalization of $109.79 billion, a PE ratio of 53.79, a price-to-earnings-growth ratio of 2.56 and a beta of 2.34.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The firm's revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. Equities research analysts expect that Robinhood Markets, Inc. will post 2.08 EPS for the current year.
Robinhood Markets News Roundup
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
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up from $135.00) on shares of Robinhood Markets in a research report on Wednesday. Weiss Ratings restated a "hold (c)" rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. BTIG Research reaffirmed a "buy" rating and issued a $125.00 target price on shares of Robinhood Markets in a report on Thursday, July 30th. Sanford C. Bernstein lifted their target price on Robinhood Markets from $130.00 to $160.00 and gave the company an "outperform" rating in a research report on Monday, July 20th. Finally, Zacks Research raised Robinhood Markets from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Twenty-three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.67.
View Our Latest Stock Report on Robinhood Markets
Hedge Funds Weigh In On Robinhood Markets
Several large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its stake in Robinhood Markets by 11.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,089 shares of the company's stock valued at $109,000 after purchasing an additional 116 shares during the period. Tucker Asset Management LLC purchased a new stake in Robinhood Markets during the 2nd quarter valued at approximately $536,000. Groupe la Francaise bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $5,544,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Robinhood Markets in the second quarter worth $6,918,000. Finally, California State Teachers Retirement System grew its stake in Robinhood Markets by 9,976.4% during the second quarter. California State Teachers Retirement System now owns 113,132,988 shares of the company's stock valued at $11,344,976,000 after acquiring an additional 112,010,233 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
About Robinhood Markets
(
Get Free Report)
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.
Further Reading
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