Korea Investment CORP Reduces Stake in Robinhood Markets, Inc. $HOOD

Korea Investment CORP lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 545,247 shares of the company’s stock after selling 15,212 shares during the period. Korea Investment CORP owned 0.06% of Robinhood Markets worth $51,051,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Robinhood Markets by 1.8% during the second quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock valued at $7,079,564,000 after purchasing an additional 1,371,051 shares during the period. Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock valued at $1,233,840,000 after buying an additional 507,926 shares during the period. WCM Investment Management LLC raised its stake in shares of Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter valued at $951,479,000. Finally, AGF Management Ltd. grew its stake in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of several recent research reports. Mizuho lifted their price objective on Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. CICC Research initiated coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price for the company. Bank of America boosted their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Keefe, Bruyette & Woods upped their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a research note on Thursday, November 6th. Finally, Morgan Stanley lifted their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.95.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $116.56, for a total value of $48,761,477.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $146.91, for a total transaction of $861,480.24. Following the sale, the chief technology officer owned 6,088 shares of the company’s stock, valued at approximately $894,388.08. The trade was a 49.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,970,272 shares of company stock worth $505,742,993. Insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $128.20 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The stock has a market cap of $115.28 billion, a P/E ratio of 53.20, a PEG ratio of 2.88 and a beta of 2.42. The firm’s fifty day moving average price is $132.63 and its 200-day moving average price is $106.56.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s quarterly revenue was up 100.0% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.