Central Pacific Bank Trust Division Has $890,000 Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Central Pacific Bank Trust Division decreased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 33.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,388 shares of the company's stock after selling 10,913 shares during the period. Central Pacific Bank Trust Division's holdings in Robinhood Markets were worth $890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the 4th quarter valued at about $26,000. CoreCap Advisors LLC boosted its stake in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC acquired a new position in Robinhood Markets during the 4th quarter valued at about $34,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares during the period. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 1.3%

Shares of HOOD stock traded up $0.83 during trading hours on Friday, reaching $64.78. 35,595,590 shares of the stock traded hands, compared to its average volume of 26,496,656. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $67.13. The business has a fifty day moving average price of $49.68 and a 200 day moving average price of $46.15. The firm has a market capitalization of $57.36 billion, a PE ratio of 41.26, a PEG ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (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 firm 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 firm earned $0.18 EPS. The firm's revenue was up 50.0% compared to the same quarter last year. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the completion of the sale, the insider now directly owns 822,893 shares of the company's stock, valued at approximately $40,338,214.86. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,127,737 shares of company stock worth $103,819,478. 14.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HOOD has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Wolfe Research lowered shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. JMP Securities reaffirmed a "market outperform" rating and issued a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price target on shares of Robinhood Markets in a research note on Thursday, March 27th. Finally, Compass Point initiated coverage on shares of Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.41.

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.