Legal & General Group Plc Has $442.72 Million Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Legal & General Group Plc trimmed its Robinhood stake by 2.0% in the fourth quarter, but still held 3.91 million shares valued at about $442.7 million.
• Robinhood’s latest earnings missed expectations slightly, with EPS of $0.38 vs. $0.39 expected and revenue of $1.07 billion vs. $1.14 billion expected, though revenue still rose 15.1% year over year.
• Wall Street remains cautiously positive on HOOD, with analysts giving it a Moderate Buy consensus and an average price target of $107.88, despite recent target cuts. Meanwhile, insiders have been selling shares, including director Baiju Bhatt and CFO Shiv Verma.

Legal & General Group Plc lessened its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,914,426 shares of the company's stock after selling 79,888 shares during the quarter. Legal & General Group Plc owned approximately 0.44% of Robinhood Markets worth $442,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of HOOD. Sound Income Strategies LLC boosted its stake in Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company's stock valued at $26,000 after buying an additional 145 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company's stock valued at $27,000 after buying an additional 99 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at $27,000. Godsey & Gibb Inc. acquired a new stake in Robinhood Markets in the 4th quarter valued at $28,000. Finally, Cornerstone Planning Group LLC boosted its stake in Robinhood Markets by 90.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 268 shares of the company's stock valued at $28,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent analyst reports. Truist Financial decreased their price target on Robinhood Markets from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, April 13th. Piper Sandler decreased their price target on Robinhood Markets from $155.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 11th. Needham & Company LLC decreased their price target on Robinhood Markets from $95.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley decreased their price target on Robinhood Markets from $147.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Friday, April 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $110.00 price target on shares of Robinhood Markets in a research note on Wednesday, April 29th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $107.88.

Robinhood Markets Price Performance

HOOD stock opened at $73.64 on Tuesday. The company has a market cap of $66.31 billion, a P/E ratio of 35.58, a PEG ratio of 2.39 and a beta of 2.29. Robinhood Markets, Inc. has a twelve month low of $62.63 and a twelve month high of $153.86. The business has a fifty day moving average of $76.06 and a 200-day moving average of $95.67.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The company's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.95 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 67,422 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 5,436 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $77.36, for a total value of $420,528.96. Following the sale, the chief financial officer owned 47,311 shares of the company's stock, valued at approximately $3,659,978.96. The trade was a 10.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 560,765 shares of company stock valued at $40,946,840 over the last quarter. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets Profile

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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