MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 92,475 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 41.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,497 shares of the company's stock after selling 92,475 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Robinhood Markets were worth $4,788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moore Capital Management LP bought a new position in Robinhood Markets in the 4th quarter worth approximately $11,379,000. Lighthouse Investment Partners LLC purchased a new stake in Robinhood Markets during the fourth quarter valued at about $6,897,000. Lightspeed Management Company L.L.C. purchased a new position in shares of Robinhood Markets during the fourth quarter valued at $1,549,000. Ellevest Inc. acquired a new position in shares of Robinhood Markets in the 4th quarter valued at about $283,000. Finally, Engle Capital Management L.P. acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at $5,924,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Up 1.0%

Shares of HOOD traded up $0.64 during trading hours on Tuesday, hitting $64.91. 31,181,081 shares of the stock traded hands, compared to its average volume of 26,341,896. The business has a fifty day moving average of $45.78 and a 200-day moving average of $44.07. The firm has a market capitalization of $57.48 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results 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). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same period last year, the firm earned $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 107,608 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $60.41, for a total value of $6,500,599.28. Following the completion of the transaction, the director now owns 7,863 shares of the company's stock, valued at $475,003.83. This represents a 93.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,897,622 shares of company stock valued at $86,956,156 in the last 90 days. 14.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HOOD shares. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. KeyCorp cut their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Wolfe Research lowered Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, JMP Securities reiterated a "market outperform" rating and set a $70.00 price target on shares of Robinhood Markets in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and an average 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.