Oak Thistle LLC Has $406,000 Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Oak Thistle LLC reduced its stake in Robinhood Markets, Inc. by 54.4%, leaving them with 9,748 shares valued at approximately $406,000.
• Several institutional investors, including KLP Kapitalforvaltning AS and Universal Beteiligungs und Servicegesellschaft mbH, significantly increased their positions in Robinhood Markets during the same quarter.
• Insider sales have been notable, with Director Baiju Bhatt selling 418,338 shares for over $31 million, representing a 98.16% decrease in their holding.

Oak Thistle LLC lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 54.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,748 shares of the company's stock after selling 11,635 shares during the period. Oak Thistle LLC's holdings in Robinhood Markets were worth $406,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC increased its holdings in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new stake in Robinhood Markets during the 4th quarter valued at $329,598,000. Price T Rowe Associates Inc. MD increased its stake in shares of Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares in the last quarter. Wealthquest Corp acquired a new stake in shares of Robinhood Markets in the first quarter valued at $156,193,000. Finally, AQR Capital Management LLC increased its stake in shares of Robinhood Markets by 231.9% in the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after buying an additional 3,673,861 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on HOOD. JMP Securities raised their price objective on shares of Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Piper Sandler raised their price target on shares of Robinhood Markets from $70.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. Needham & Company LLC reissued a "buy" rating and issued a $71.00 target price on shares of Robinhood Markets in a research note on Tuesday, May 27th. Finally, Citigroup lifted their target price on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. One 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 currently has a consensus rating of "Moderate Buy" and an average target price of $85.29.

Robinhood Markets Stock Performance

NASDAQ HOOD traded down $3.07 on Tuesday, reaching $103.70. The company had a trading volume of 11,149,201 shares, compared to its average volume of 41,443,500. The firm has a market capitalization of $91.82 billion, a price-to-earnings ratio of 59.30, a price-to-earnings-growth ratio of 5.35 and a beta of 2.36. The company's fifty day moving average is $83.80 and its 200-day moving average is $60.44. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the company earned $0.18 EPS. The company's revenue was up 50.0% compared to the same quarter last year. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,020,826 shares of company stock worth $256,545,966. 19.95% of the stock is owned by insiders.

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.