KBC Group NV Sells 188,114 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

KBC Group NV lowered its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 31.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 414,995 shares of the company's stock after selling 188,114 shares during the quarter. KBC Group NV's holdings in Robinhood Markets were worth $17,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares in the last quarter. CoreCap Advisors LLC grew 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 in the last quarter. Creative Financial Designs Inc. ADV grew 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 in the last quarter. Colonial Trust Co SC bought a new position in shares of Robinhood Markets in the fourth quarter worth approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Robinhood Markets by 139.9% in the first 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 in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the transaction, the director directly owned 7,863 shares of the company's stock, valued at approximately $584,142.27. The trade was a 98.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction on 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 directly owned 136,364 shares of the company's stock, valued at $11,585,485.44. The trade was a 40.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,722,691 shares of company stock worth $107,708,726. Corporate insiders own 19.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HOOD shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 price target on shares of Robinhood Markets in a research note on Tuesday, May 27th. KeyCorp upped their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday. Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Finally, Citigroup cut their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. One investment 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. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Robinhood Markets Price Performance

Robinhood Markets stock traded up $6.40 during trading hours on Wednesday, reaching $98.73. The stock had a trading volume of 49,281,907 shares, compared to its average volume of 28,944,068. The company has a fifty day simple moving average of $65.93 and a 200-day simple moving average of $52.31. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $100.77. The stock has a market cap of $87.42 billion, a PE ratio of 56.25, a PEG ratio of 5.52 and a beta of 2.36.

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