Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 130,100 shares of the company's stock after selling 4,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Robinhood Markets were worth $5,415,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts recently commented on HOOD shares. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Citigroup upped their price target on Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Piper Sandler upped their price target on Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. KeyCorp upped their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Needham & Company LLC upped their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Trading Up 3.1%

Robinhood Markets stock opened at $114.17 on Friday. Robinhood Markets, Inc. has a twelve month low of $18.71 and a twelve month high of $117.70. The stock's fifty day simple moving average is $95.36 and its 200-day simple moving average is $66.15. The firm has a market capitalization of $101.46 billion, a P/E ratio of 57.95, a P/E/G ratio of 4.22 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total value of $22,493,250.00. Following the transaction, the insider owned 591,887 shares of the company's stock, valued at $59,170,943.39. This represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares in the company, valued at $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,644,685 shares of company stock worth $430,085,957. 14.47% of the stock is owned by corporate insiders.

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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