Banque Pictet & Cie SA Sells 43,350 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Banque Pictet & Cie SA lessened its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 19.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 179,846 shares of the company's stock after selling 43,350 shares during the quarter. Banque Pictet & Cie SA's holdings in Robinhood Markets were worth $7,485,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC grew its holdings in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth $30,000. CoreCap Advisors LLC boosted its holdings in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $34,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a report on Monday, July 7th. KeyCorp boosted their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, Barclays lifted their target price on Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average target price of $76.06.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider owned 228,621 shares of the company's stock, valued at $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02. Following the completion of the transaction, the director directly owned 7,863 shares in the company, valued at $584,142.27. The trade was a 98.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,472,702 shares of company stock valued at $179,396,832 in the last three months. Company insiders own 19.95% of the company's stock.

Robinhood Markets Trading Down 0.4%

NASDAQ HOOD traded down $0.36 during trading on Friday, reaching $98.34. 60,149,672 shares of the company's stock were exchanged, compared to its average volume of 30,346,786. The firm has a market capitalization of $87.08 billion, a PE ratio of 55.88, a P/E/G ratio of 5.25 and a beta of 2.36. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $101.50. The company's fifty day simple moving average is $73.48 and its 200-day simple moving average is $55.53.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.