OVERSEA CHINESE BANKING Corp Ltd Has $356,000 Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd has reduced its stake in Robinhood Markets by 28.0%, owning 8,556 shares worth $356,000 as per its latest SEC filing.
• Analysts have recently adjusted their price targets for Robinhood Markets, with several firms setting targets as high as $120.00 and giving the stock a consensus rating of "Moderate Buy."
• CEO Vladimir Tenev and Director Baiju Bhatt have significantly sold shares recently, contributing to a total of 3 million shares sold by insiders worth over $255 million in the last quarter.

OVERSEA CHINESE BANKING Corp Ltd lowered its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 28.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,556 shares of the company's stock after selling 3,320 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Robinhood Markets were worth $356,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. MetLife Investment Management LLC boosted its holdings in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after buying an additional 171 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after buying an additional 265 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Robinhood Markets by 23.4% in the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company's stock valued at $58,000 after buying an additional 266 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Robinhood Markets by 1.1% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 28,850 shares of the company's stock valued at $1,201,000 after buying an additional 320 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Robinhood Markets by 28.6% in the 1st quarter. Blue Trust Inc. now owns 1,998 shares of the company's stock valued at $83,000 after buying an additional 444 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

HOOD stock opened at $99.90 on Monday. The stock has a market capitalization of $88.46 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 4.59 and a beta of 2.36. The business's fifty day moving average price is $86.92 and its two-hundred day moving average price is $62.11. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $113.44.

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

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $74.29, for a total value of $31,078,330.02. Following the completion of the transaction, the director owned 7,863 shares in the company, valued at $584,142.27. The trade was a 98.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,001,690 shares of company stock worth $255,967,852. Company insiders own 19.95% of the company's stock.

Analyst Ratings Changes

HOOD has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. KeyCorp raised their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Mizuho set a $120.00 price target on Robinhood Markets and gave the company an "outperform" rating in a report on Thursday. Piper Sandler raised their price target on Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Barclays raised their price target on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.29.

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.

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