Truist Financial Corp Grows Stock Holdings in Robinhood Markets, Inc. $HOOD

Truist Financial Corp increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 88.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,489 shares of the company's stock after purchasing an additional 68,458 shares during the period. Truist Financial Corp's holdings in Robinhood Markets were worth $16,455,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Robinhood Markets by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 95,771,497 shares of the company's stock worth $10,831,756,000 after acquiring an additional 1,334,443 shares in the last quarter. State Street Corp raised its position in shares of Robinhood Markets by 103.2% during the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company's stock worth $4,617,004,000 after acquiring an additional 16,375,734 shares in the last quarter. Invesco Ltd. lifted its stake in Robinhood Markets by 25.3% during the third quarter. Invesco Ltd. now owns 6,191,123 shares of the company's stock worth $886,445,000 after purchasing an additional 1,248,590 shares during the last quarter. Northern Trust Corp boosted its holdings in Robinhood Markets by 48.5% in the third quarter. Northern Trust Corp now owns 6,157,337 shares of the company's stock valued at $881,608,000 after purchasing an additional 2,011,820 shares in the last quarter. Finally, Amundi boosted its holdings in Robinhood Markets by 10.6% in the third quarter. Amundi now owns 4,592,764 shares of the company's stock valued at $662,552,000 after purchasing an additional 440,899 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the firm's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $69.85, for a total transaction of $407,574.75. Following the transaction, the chief technology officer owned 18,006 shares of the company's stock, valued at $1,257,719.10. This trade represents a 24.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 57,261 shares of the firm's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $86.38, for a total value of $4,946,205.18. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 487,907 shares of company stock valued at $35,444,040 in the last quarter. Corporate insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

HOOD has been the topic of a number of research analyst reports. Zacks Research cut shares of Robinhood Markets from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of Robinhood Markets from $113.00 to $92.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $130.00 target price on shares of Robinhood Markets in a research report on Tuesday, April 14th. Piper Sandler cut their price target on shares of Robinhood Markets from $155.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 11th. Finally, New Street Research set a $122.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 5th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.88.

Robinhood Markets Trading Down 3.5%

Shares of HOOD opened at $76.28 on Friday. The company's 50 day simple moving average is $76.44 and its 200-day simple moving average is $100.98. The firm has a market cap of $68.68 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 2.58 and a beta of 2.29. Robinhood Markets, Inc. has a 12-month low of $51.61 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.86 EPS for the current fiscal year.

Robinhood Markets Profile

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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