Andra AP fonden Decreases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Andra AP fonden cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 62.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,100 shares of the company’s stock after selling 307,300 shares during the quarter. Andra AP fonden’s holdings in Robinhood Markets were worth $6,785,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HOOD. Edgestream Partners L.P. boosted its holdings in shares of Robinhood Markets by 21.2% during the 4th quarter. Edgestream Partners L.P. now owns 149,684 shares of the company’s stock worth $5,577,000 after purchasing an additional 26,181 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in Robinhood Markets during the fourth quarter worth approximately $354,000. Vestmark Advisory Solutions Inc. boosted its stake in Robinhood Markets by 23.6% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 451,577 shares of the company’s stock worth $16,826,000 after buying an additional 86,186 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Robinhood Markets in the 4th quarter valued at $90,869,000. Finally, Arizona State Retirement System increased its stake in shares of Robinhood Markets by 2.5% in the 4th quarter. Arizona State Retirement System now owns 155,108 shares of the company’s stock worth $5,779,000 after acquiring an additional 3,722 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $44.42 on Friday. The stock has a market capitalization of $39.33 billion, a PE ratio of 28.29, a P/E/G ratio of 1.05 and a beta of 2.14. The company’s 50-day simple moving average is $49.03 and its 200-day simple moving average is $35.92. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other news, Director Baiju Bhatt sold 186,514 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. The trade was a 98.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares in the company, valued at $821,936.79. The trade was a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,171,641 shares of company stock worth $149,567,157. Corporate insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HOOD. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Sanford C. Bernstein raised their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC upped their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, JMP Securities increased their price objective on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $60.13.

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.