Assenagon Asset Management S.A. Sells 391,099 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Assenagon Asset Management S.A. reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 14.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,397,567 shares of the company's stock after selling 391,099 shares during the period. Assenagon Asset Management S.A. owned about 0.27% of Robinhood Markets worth $99,787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after acquiring an additional 3,769 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Robinhood Markets by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after acquiring an additional 138,267 shares during the period. Aigen Investment Management LP grew its stake in Robinhood Markets by 161.2% in the 4th quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after acquiring an additional 52,988 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Robinhood Markets by 19.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company's stock worth $179,463,000 after acquiring an additional 739,631 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $207,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of HOOD traded down $1.24 during mid-day trading on Friday, reaching $72.60. 27,696,951 shares of the company's stock traded hands, compared to its average volume of 27,333,775. The business's 50-day moving average price is $56.22 and its 200-day moving average price is $48.65. The stock has a market capitalization of $64.28 billion, a P/E ratio of 46.24, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $77.80.

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

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the completion of the sale, the director now owns 7,863 shares of the company's stock, valued at $584,142.27. This trade represents a 98.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total transaction of $957,750.00. Following the sale, the insider now directly owns 822,825 shares of the company's stock, valued at $31,522,425.75. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,650,974 shares of company stock worth $142,977,123 over the last quarter. 14.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on HOOD. JMP Securities reissued a "market outperform" rating and set a $70.00 price objective on shares of Robinhood Markets in a research note on Thursday, May 1st. Citigroup decreased their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $81.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.17.

About Robinhood Markets

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.