Avanza Fonder AB Sells 17,819 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Avanza Fonder AB decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 52,132 shares of the company's stock after selling 17,819 shares during the quarter. Avanza Fonder AB's holdings in Robinhood Markets were worth $2,225,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC boosted its stake in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Geode Capital Management LLC boosted its stake in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Robinhood Markets by 34.4% in the 4th quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock worth $450,031,000 after purchasing an additional 3,091,514 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Robinhood Markets by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after buying an additional 52,700 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

HOOD traded down $1.04 on Thursday, hitting $73.84. 22,509,122 shares of the stock were exchanged, compared to its average volume of 27,274,798. The firm has a market capitalization of $65.38 billion, a price-to-earnings ratio of 47.03, a PEG 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. The business has a 50-day moving average of $54.68 and a two-hundred day moving average of $48.16.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $927.00 million for the quarter, compared to the consensus estimate 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 was up 50.0% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $43.36, for a total value of $253,786.08. Following the completion of the transaction, the chief technology officer now directly owns 11,706 shares in the company, valued at approximately $507,572.16. This represents a 33.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 24,311 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $54.93, for a total value of $1,335,403.23. Following the completion of the transaction, the insider now owns 299,349 shares of the company's stock, valued at $16,443,240.57. This represents a 7.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,232,636 shares of company stock worth $111,898,793 in the last ninety days. 14.47% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on HOOD. Citigroup reduced 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 note on Wednesday, April 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 target price on shares of Robinhood Markets in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday. 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 on the stock. Finally, Morgan Stanley increased their price objective on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $57.17.

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.