Rakuten Securities Inc. Sells 7,141 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Rakuten Securities Inc. cut its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 32.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,721 shares of the company's stock after selling 7,141 shares during the quarter. Rakuten Securities Inc.'s holdings in Robinhood Markets were worth $613,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of HOOD. IFP Advisors Inc raised its position in shares of Robinhood Markets by 601.1% during the fourth quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after acquiring an additional 3,769 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Robinhood Markets during the first quarter worth about $277,000. Charles Schwab Investment Management Inc. raised its position in shares of Robinhood Markets by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock worth $175,857,000 after acquiring an additional 138,267 shares during the last quarter. Aigen Investment Management LP raised its position in shares of Robinhood Markets by 161.2% during the fourth quarter. Aigen Investment Management LP now owns 85,868 shares of the company's stock worth $3,199,000 after acquiring an additional 52,988 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC bought a new position in shares of Robinhood Markets during the fourth quarter worth about $207,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Up 2.5%

Shares of NASDAQ:HOOD traded up $1.87 during mid-day trading on Wednesday, hitting $76.82. 11,133,978 shares of the company traded hands, compared to its average volume of 27,387,496. The stock has a market cap of $68.02 billion, a P/E ratio of 43.63, a P/E/G ratio of 4.53 and a beta of 2.25. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $77.80. The stock has a 50-day moving average price of $57.73 and a two-hundred day moving average price of $49.26.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same period in the previous year, the firm earned $0.18 EPS. The firm's quarterly revenue was up 50.0% on a year-over-year basis. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Barclays decreased their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Wolfe Research cut Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $71.00 target price on shares of Robinhood Markets in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $38.31, for a total value of $957,750.00. Following the transaction, the insider now owns 822,825 shares of the company's stock, valued at approximately $31,522,425.75. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,650,974 shares of company stock valued at $142,977,123. Insiders own 19.95% of the company's stock.

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.