Allspring Global Investments Holdings LLC Sells 1,676,001 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Allspring Global Investments Holdings LLC decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,881,300 shares of the company's stock after selling 1,676,001 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.33% of Robinhood Markets worth $121,476,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Colonial Trust Co SC bought a new stake in Robinhood Markets during the 4th quarter worth about $34,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after acquiring an additional 498 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Down 1.8%

Shares of Robinhood Markets stock traded down $1.49 during trading on Friday, reaching $83.03. The stock had a trading volume of 36,890,636 shares, compared to its average volume of 28,040,111. The company has a market capitalization of $73.52 billion, a price-to-earnings ratio of 47.18, a P/E/G ratio of 4.99 and a beta of 2.25. The stock has a fifty day moving average price of $63.85 and a two-hundred day moving average price of $51.47. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $85.55.

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

Insider Transactions at Robinhood Markets

In other news, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the completion of the sale, the insider now owns 136,364 shares in the company, valued at $11,585,485.44. The trade was a 40.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $34.51, for a total value of $201,987.03. Following the transaction, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,472,691 shares of company stock valued at $139,178,726 over the last 90 days. 14.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Morgan Stanley increased their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $70.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 1st. One equities 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.29.

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.