Robinhood Markets, Inc. $HOOD Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its stake in Robinhood Markets by 0.7%, now holding 391,200 shares valued at $15.07 million.
• Insider sales included CEO Vladimir Tenev selling 750,000 shares for approximately $70 million, and Director Baiju Bhatt selling over 1.5 million shares for nearly $157 million.
• Analysts have varying target prices for Robinhood, with Mizuho increasing its target to $120.00, while others have given a mixture of "Buy," "Hold," and "Sell" ratings.

APG Asset Management N.V. cut its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 391,200 shares of the company's stock after selling 2,700 shares during the quarter. APG Asset Management N.V.'s holdings in Robinhood Markets were worth $15,073,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. MetLife Investment Management LLC increased its position in shares of Robinhood Markets by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after purchasing an additional 171 shares during the period. Hemington Wealth Management grew its holdings in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Farther Finance Advisors LLC grew 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 worth $290,000 after acquiring an additional 265 shares during the last quarter. Allworth Financial LP grew 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 worth $58,000 after acquiring an additional 266 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Robinhood Markets by 0.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after acquiring an additional 272 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. Insiders sold a total of 4,644,685 shares of company stock worth $448,881,884 over the last quarter. 19.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Mizuho lifted their target price on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Finally, Piper Sandler lifted their price target on Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.31.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $109.32 on Monday. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70. The business has a 50-day moving average of $98.88 and a two-hundred day moving average of $68.30. The stock has a market capitalization of $97.15 billion, a P/E ratio of 55.49, a P/E/G ratio of 4.01 and a beta of 2.36.

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

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.

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