Andra AP fonden Reduces Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Andra AP fonden lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 62.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 182,100 shares of the company’s stock after selling 307,300 shares during the period. Andra AP fonden’s holdings in Robinhood Markets were worth $6,785,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its holdings in Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after purchasing an additional 277 shares in the last quarter. Commerce Bank grew its position in shares of Robinhood Markets by 3.3% in the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after buying an additional 423 shares during the last quarter. Spire Wealth Management raised its stake in Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after acquiring an additional 549 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in Robinhood Markets by 3.1% in the third quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company’s stock valued at $463,000 after acquiring an additional 598 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in 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 acquiring 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

HOOD has been the topic of a number of research analyst reports. Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They set a “market perform” rating on the stock. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Keefe, Bruyette & Woods raised their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Cantor Fitzgerald started coverage on shares of Robinhood Markets in a research report on Thursday. They issued an “overweight” rating and a $69.00 price target for the company. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $60.13.

Robinhood Markets Stock Down 0.9 %

Shares of Robinhood Markets stock opened at $44.42 on Friday. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The company’s 50-day simple moving average is $49.03 and its 200-day simple moving average is $35.92.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares in the company, valued at $30,268,882.05. This trade represents a 27.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold 3,171,641 shares of company stock valued at $149,567,157 over the last quarter. Company insiders own 19.95% of the company’s stock.

Robinhood Markets 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.