Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 27.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,672,290 shares of the company's stock after selling 4,849,139 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.43% of Robinhood Markets worth $527,421,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Kessler Investment Group LLC purchased a new position in Robinhood Markets during the first quarter worth approximately $5,091,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Robinhood Markets by 21.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,676 shares of the company's stock worth $112,000 after purchasing an additional 478 shares in the last quarter. Diversified Trust Co boosted its position in Robinhood Markets by 394.2% during the first quarter. Diversified Trust Co now owns 43,008 shares of the company's stock worth $1,790,000 after purchasing an additional 34,305 shares in the last quarter. Alta Wealth Advisors LLC purchased a new position in Robinhood Markets during the first quarter worth approximately $257,000. Finally, SFG Wealth Management LLC. purchased a new position in Robinhood Markets during the first quarter worth approximately $212,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Barclays decreased their target price on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $62.29.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $77.82, for a total transaction of $456,336.48. Following the sale, the chief technology officer now owns 14,772 shares in the company, valued at $1,149,557.04. This represents a 28.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Quirk sold 92,257 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the transaction, the insider now directly owns 136,364 shares of the company's stock, valued at approximately $11,585,485.44. This represents a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,472,691 shares of company stock worth $139,178,726 over the last quarter. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Stock Down 1.8%

NASDAQ:HOOD traded down $1.49 on Friday, reaching $83.03. The company's stock had a trading volume of 36,890,636 shares, compared to its average volume of 28,040,111. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $85.55. The firm has a market cap of $73.52 billion, a price-to-earnings ratio of 47.18, a price-to-earnings-growth ratio of 4.99 and a beta of 2.25. The stock has a 50 day moving average price of $63.85 and a 200 day moving average price of $51.47.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same quarter in the prior year, the firm earned $0.18 EPS. Robinhood Markets's revenue for the quarter was up 50.0% compared to the same quarter last year. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS 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.