Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,700 shares of the company's stock after acquiring an additional 7,000 shares during the quarter. Handelsbanken Fonder AB's holdings in Robinhood Markets were worth $5,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in shares of Robinhood Markets by 58.6% in the 1st quarter. SG Americas Securities LLC now owns 95,368 shares of the company's stock valued at $3,969,000 after acquiring an additional 35,250 shares during the period. Simplicity Wealth LLC purchased a new position in shares of Robinhood Markets in the 1st quarter valued at $2,239,000. GAMMA Investing LLC increased its holdings in shares of Robinhood Markets by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 8,210 shares of the company's stock valued at $342,000 after acquiring an additional 2,352 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in shares of Robinhood Markets in the 1st quarter valued at $277,000. Finally, Requisite Capital Management LLC increased its holdings in shares of Robinhood Markets by 168.2% in the 1st quarter. Requisite Capital Management LLC now owns 19,179 shares of the company's stock valued at $798,000 after acquiring an additional 12,029 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. Wolfe Research downgraded Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. KeyCorp dropped their target price on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Citigroup dropped their target price on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They set a "buy" rating and a $61.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.17.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction dated 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 now owns 7,863 shares of the company's stock, valued at approximately $584,142.27. This represents a 98.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $38.31, for a total value of $957,750.00. Following the completion of the transaction, the insider now directly owns 822,825 shares of the company's stock, valued at $31,522,425.75. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,650,974 shares of company stock valued at $142,977,123. 14.47% of the stock is owned by company insiders.

Robinhood Markets Stock Up 5.7%

Shares of HOOD stock traded up $4.15 on Monday, hitting $76.75. The company had a trading volume of 26,849,354 shares, compared to its average volume of 27,389,996. The firm has a market cap of $67.96 billion, a P/E ratio of 48.89, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. The company has a 50-day moving average price of $57.07 and a 200-day moving average price of $49.08. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $77.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business's quarterly revenue was up 50.0% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.