Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,336 shares of the company's stock after selling 6,592 shares during the quarter. Main Management ETF Advisors LLC's holdings in Robinhood Markets were worth $2,732,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at approximately $26,000. CoreCap Advisors LLC raised its holdings in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after buying an additional 750 shares during the last quarter. Colonial Trust Co SC acquired a new position in shares of Robinhood Markets in the 4th quarter valued at about $34,000. Finally, Silicon Valley Capital Partners bought a new stake in shares of Robinhood Markets during the 4th quarter valued at about $37,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the sale, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction 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. Insiders sold 2,362,194 shares of company stock valued at $116,234,743 over the last 90 days. 14.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HOOD has been the subject of a number of research reports. Raymond James assumed coverage on Robinhood Markets in a research note on Wednesday, February 5th. They issued a "market perform" rating for the company. Needham & Company LLC reduced their price objective on Robinhood Markets from $62.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft dropped their target price on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, Citigroup lowered their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.41.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $62.57 on Wednesday. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The stock has a market capitalization of $55.40 billion, a PE ratio of 39.85, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The firm has a 50 day simple moving average of $43.92 and a 200-day simple moving average of $42.96.

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

About Robinhood Markets

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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