KLP Kapitalforvaltning AS Sells 40,699 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in Robinhood Markets by 13.5%, selling 40,699 shares and currently owning 260,800 shares valued at approximately $24.4 million.
• Insider sales in Robinhood included CTO Jeffrey Tsvi Pinner selling 5,864 shares and insider Steven M. Quirk selling 60,113 shares, representing significant decreases in their respective holdings.
• Several institutional investors increased their stakes in Robinhood Markets, with notable increases from TD Private Client Wealth LLC by 184.4% and Caitong International Asset Management Co. Ltd by 125.9% during the first quarter.

KLP Kapitalforvaltning AS trimmed its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 13.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 260,800 shares of the company's stock after selling 40,699 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Robinhood Markets were worth $24,419,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC raised its holdings in shares of Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock valued at $2,092,000 after buying an additional 3,032 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after purchasing an additional 1,186 shares during the last quarter. Wellington Management Group LLP raised its holdings in Robinhood Markets by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after purchasing an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after purchasing an additional 10,703 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new stake in Robinhood Markets during the 1st quarter worth about $277,000. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $124.13, for a total transaction of $727,898.32. Following the completion of the sale, the chief technology officer directly owned 17,816 shares of the company's stock, valued at approximately $2,211,500.08. This represents a 24.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company's stock, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,675,598 shares of company stock worth $617,385,075 in the last quarter. Company insiders own 19.95% of the company's stock.

Robinhood Markets Trading Up 0.5%

Robinhood Markets stock opened at $145.00 on Wednesday. The business has a 50-day moving average of $116.04 and a 200-day moving average of $84.00. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The firm has a market capitalization of $128.86 billion, a P/E ratio of 73.60, a PEG ratio of 4.01 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period in the prior year, the business earned $0.21 EPS. Robinhood Markets's revenue for the quarter was up 45.0% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the subject of several recent research reports. Citigroup boosted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Piper Sandler reissued an "overweight" rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. The Goldman Sachs Group boosted their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. KeyCorp boosted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $113.59.

Robinhood Markets Company 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.

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