Russell Investments Group Ltd. Reduces Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Russell Investments Group Ltd. lowered its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 14.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 496,674 shares of the company’s stock after selling 80,856 shares during the period. Russell Investments Group Ltd. owned 0.06% of Robinhood Markets worth $6,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new position in shares of Robinhood Markets in the third quarter worth about $29,000. UniSuper Management Pty Ltd purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $30,000. Whittier Trust Co. lifted its stake in Robinhood Markets by 100.0% in the 4th quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock worth $59,000 after purchasing an additional 2,317 shares in the last quarter. Financial Connections Group Inc. acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $89,000. Finally, International Assets Investment Management LLC grew its position in shares of Robinhood Markets by 1,174.1% in the fourth quarter. International Assets Investment Management LLC now owns 7,326 shares of the company’s stock valued at $93,000 after purchasing an additional 6,751 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In other news, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now owns 916,267 shares of the company’s stock, valued at $10,995,204. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 916,267 shares in the company, valued at approximately $10,995,204. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Baiju Bhatt sold 188,077 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total value of $2,552,204.89. Following the transaction, the insider now directly owns 36,045 shares of the company’s stock, valued at $489,130.65. The disclosure for this sale can be found here. Insiders sold 2,413,026 shares of company stock valued at $38,927,267 in the last 90 days. Company insiders own 20.81% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent research reports. JMP Securities boosted their price objective on Robinhood Markets from $25.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Barclays boosted their price target on shares of Robinhood Markets from $11.00 to $16.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. KeyCorp raised their price objective on shares of Robinhood Markets from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Piper Sandler boosted their target price on shares of Robinhood Markets from $12.50 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Citigroup downgraded shares of Robinhood Markets from a “neutral” rating to a “sell” rating and raised their price target for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Hold” and a consensus target price of $18.96.

Robinhood Markets Trading Down 0.8 %

HOOD opened at $17.85 on Thursday. The stock’s 50-day moving average price is $17.78 and its 200 day moving average price is $13.37. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $20.55. The firm has a market cap of $15.61 billion, a price-to-earnings ratio of -29.75 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. On average, research analysts forecast that Robinhood Markets, Inc. will post 0.29 earnings per share for the current year.

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.