Swedbank AB Lowers Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Swedbank AB trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 225,721 shares of the company’s stock after selling 2,000 shares during the period. Swedbank AB’s holdings in Robinhood Markets were worth $5,286,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Robinhood Markets by 1,211,858.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after purchasing an additional 3,817,355 shares during the period. Renaissance Technologies LLC raised its holdings in Robinhood Markets by 37.7% in the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares during the period. Sparta 24 Ltd. grew its stake in Robinhood Markets by 905.8% during the third quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock worth $38,061,000 after buying an additional 1,463,578 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Robinhood Markets by 169.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after acquiring an additional 1,251,495 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Robinhood Markets by 274.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after acquiring an additional 1,218,317 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meyer Malka sold 105,875 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the completion of the sale, the director now directly owns 28,930,243 shares in the company, valued at approximately $867,907,290. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,685,549 shares of company stock worth $114,953,194 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HOOD. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. KeyCorp increased their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods decreased their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Barclays increased their price objective on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, JMP Securities boosted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.59.

Robinhood Markets Trading Up 3.4 %

Shares of NASDAQ HOOD opened at $37.65 on Thursday. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 63.81, a price-to-earnings-growth ratio of 0.88 and a beta of 1.84. Robinhood Markets, Inc. has a twelve month low of $8.35 and a twelve month high of $39.74. The business has a 50 day simple moving average of $27.55 and a 200-day simple moving average of $23.29.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, equities analysts predict that Robinhood Markets, Inc. will post 0.74 earnings per share for the current year.

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.