GF Fund Management CO. LTD. Trims Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

GF Fund Management CO. LTD. cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 85.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,669 shares of the company's stock after selling 67,331 shares during the period. GF Fund Management CO. LTD.'s holdings in Robinhood Markets were worth $486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HOOD. US Bancorp DE boosted its stake in Robinhood Markets by 53.3% in the 4th quarter. US Bancorp DE now owns 42,545 shares of the company's stock worth $1,585,000 after purchasing an additional 14,794 shares during the period. Smartleaf Asset Management LLC boosted its stake in Robinhood Markets by 157.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,697 shares of the company's stock worth $103,000 after purchasing an additional 1,649 shares during the period. Jones Financial Companies Lllp boosted its stake in Robinhood Markets by 1,631.5% in the 4th quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company's stock worth $129,000 after purchasing an additional 3,263 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Robinhood Markets by 43.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,028 shares of the company's stock worth $523,000 after acquiring an additional 4,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Robinhood Markets by 3.0% during 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 in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 3.9%

Shares of NASDAQ HOOD traded down $3.85 during mid-day trading on Friday, reaching $94.13. 56,373,803 shares of the company were exchanged, compared to its average volume of 29,531,505. The stock has a market cap of $83.35 billion, a price-to-earnings ratio of 53.48, a P/E/G ratio of 4.80 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $100.88. The firm has a 50-day moving average of $68.81 and a 200 day moving average of $53.45.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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 15.42% and a net margin of 48.77%. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup decreased their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Compass Point upped their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. JMP Securities reissued a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research report on Thursday, May 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Finally, KeyCorp increased their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $69.00.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the sale, the insider owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher D. Payne purchased 26,500 shares of the stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $74.19 per share, with a total value of $1,966,035.00. Following the acquisition, the director owned 26,500 shares of the company's stock, valued at approximately $1,966,035. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 2,447,691 shares of company stock worth $176,703,476 over the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

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.