Vident Advisory LLC Sells 24,839 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Vident Advisory LLC cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,106 shares of the company's stock after selling 24,839 shares during the period. Vident Advisory LLC's holdings in Robinhood Markets were worth $4,065,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its holdings in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Newlands Management Operations LLC boosted its holdings in Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after acquiring an additional 273,860 shares during the period. Geode Capital Management LLC boosted its holdings in Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares during the period. Renaissance Technologies LLC boosted its holdings in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after acquiring an additional 3,091,514 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after acquiring an additional 52,700 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 1.0%

NASDAQ:HOOD opened at $64.91 on Wednesday. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The firm has a market capitalization of $57.48 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The firm has a 50-day moving average price of $46.35 and a 200 day moving average price of $44.22.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same period last year, the company earned $0.18 EPS. The business's revenue for the quarter was up 50.0% on a year-over-year basis. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HOOD shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $56.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Morgan Stanley upped their price objective on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Finally, Barclays cut their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $55.41.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now directly owns 298,826 shares of the company's stock, valued at approximately $16,674,490.80. This represents a 29.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 107,608 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $60.41, for a total transaction of $6,500,599.28. Following the sale, the director now directly owns 7,863 shares in the company, valued at $475,003.83. This represents a 93.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,897,622 shares of company stock valued at $86,956,156 over the last quarter. Corporate insiders own 14.47% of the company's stock.

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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