Robinhood Markets, Inc. $HOOD Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Robinhood Markets by 42%, owning 32,316 shares valued at approximately $1.34 million after selling 23,360 shares.
• Several hedge funds, including TD Private Client Wealth LLC and Deutsche Bank AG, increased their positions in Robinhood during Q1, with Deutsche Bank lifting its holdings by 137.6%.
• Analysts have set price targets for Robinhood ranging from $48.00 to $130.00, with a consensus rating of "Moderate Buy" and an average price target of $100.31.

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 42.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,316 shares of the company's stock after selling 23,360 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Robinhood Markets were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its position in Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,186 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after acquiring an additional 10,703 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in Robinhood Markets during the 1st quarter worth approximately $277,000. Burns Matteson Capital Management LLC acquired a new stake in Robinhood Markets during the 1st quarter worth approximately $495,000. Finally, Deutsche Bank AG lifted its holdings in shares of Robinhood Markets by 137.6% in the 1st quarter. Deutsche Bank AG now owns 1,761,767 shares of the company's stock valued at $73,325,000 after buying an additional 1,020,286 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction dated 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 transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction dated Friday, August 1st. The stock was 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 have sold a total of 4,644,685 shares of company stock worth $448,881,884 over the last ninety days. 14.47% of the stock is owned by insiders.

Analysts Set New Price Targets

HOOD has been the subject of several recent analyst reports. Redburn Atlantic reissued a "sell" rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Morgan Stanley raised their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. JMP Securities raised their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group raised their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $106.30 on Friday. Robinhood Markets, Inc. has a 1-year low of $18.71 and a 1-year high of $117.70. The company has a market capitalization of $94.47 billion, a P/E ratio of 53.96, a PEG ratio of 3.86 and a beta of 2.36. The business has a 50 day moving average price of $98.15 and a 200 day moving average price of $67.71.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Robinhood Markets 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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