Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,959 shares of the company’s stock after selling 9,600 shares during the period. Shikiar Asset Management Inc.’s holdings in Robinhood Markets were worth $1,340,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. HM Payson & Co. grew its holdings in Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares during the period. Eastern Bank acquired a new position in shares of Robinhood Markets during the 3rd quarter worth $30,000. True Wealth Design LLC acquired a new position in shares of Robinhood Markets during the 3rd quarter worth $30,000. ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets in the third quarter valued at about $33,000. Finally, Connective Portfolio Management LLC purchased a new stake in Robinhood Markets during the third quarter worth about $47,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the sale, the chief technology officer now directly owns 5,876 shares in the company, valued at $250,552.64. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 90,866 shares of Robinhood Markets stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $45.27, for a total value of $4,113,503.82. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $228,251.34. This represents a 94.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,700,658 shares of company stock worth $140,360,682. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Up 4.5 %

Shares of Robinhood Markets stock opened at $48.15 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $49.27. The business’s fifty day moving average is $38.63 and its two-hundred day moving average is $28.18. The firm has a market cap of $42.56 billion, a PE ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same quarter last year, the company posted ($0.09) earnings per share. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. Equities research analysts anticipate that Robinhood Markets, Inc. will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HOOD shares. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. JMP Securities upped their target price on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. KeyCorp increased their price objective on shares of Robinhood Markets from $30.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their target price for the company from $20.00 to $43.00 in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.07.

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.