Benjamin Edwards Inc. Cuts Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Benjamin Edwards Inc. decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,297 shares of the company's stock after selling 8,762 shares during the period. Benjamin Edwards Inc.'s holdings in Robinhood Markets were worth $2,396,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HOOD. FMR LLC raised its holdings in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank purchased a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $329,598,000. GQG Partners LLC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership acquired a new stake in Robinhood Markets in the 4th quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after acquiring an additional 3,994,745 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Trading Up 1.6 %

Shares of HOOD opened at $48.82 on Wednesday. The firm has a market cap of $43.22 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The company's 50-day moving average price is $43.07 and its 200 day moving average price is $41.96. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business's revenue for the quarter was up 50.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 522,180 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.70, for a total transaction of $32,740,686.00. Following the sale, the director now owns 5,042 shares in the company, valued at $316,133.40. This represents a 99.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,309,593 shares of company stock worth $113,525,021. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research reports. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. JMP Securities restated a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a research report on Thursday, May 1st. Piper Sandler boosted their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC lowered their target price on shares of Robinhood Markets from $62.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Compass Point started coverage on shares of Robinhood Markets in a report on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.24.

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.

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