Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 46.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,359 shares of the company's stock after selling 16,600 shares during the quarter. Shikiar Asset Management Inc.'s holdings in Robinhood Markets were worth $806,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HOOD. Whipplewood Advisors LLC raised its holdings in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares during the period. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position 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 valued at $32,000 after purchasing an additional 750 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares in the last quarter. Finally, Colonial Trust Co SC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at about $34,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Down 2.3%

Shares of Robinhood Markets stock traded down $1.80 on Tuesday, hitting $74.95. 26,551,033 shares of the company traded hands, compared to its average volume of 27,440,704. The company has a market cap of $66.37 billion, a PE ratio of 59.50, a PEG ratio of 4.53 and a beta of 2.25. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $77.80. The stock's 50 day moving average price is $57.07 and its 200-day moving average price is $49.08.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly 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). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The company's revenue was up 50.0% on a year-over-year basis. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HOOD shares. Barclays cut their price objective on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Wolfe Research lowered Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Mizuho lifted their price target on Robinhood Markets from $65.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 223,528 shares of Robinhood Markets stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at approximately $217,864.82. This trade represents a 97.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,650,974 shares of company stock valued at $142,977,123. 19.95% of the stock is currently 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.