Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 34.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,744 shares of the company’s stock after selling 9,213 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Robinhood Markets were worth $357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Robinhood Markets by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after acquiring an additional 2,459,702 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Robinhood Markets by 6.4% during the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after acquiring an additional 2,101,325 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after acquiring an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after acquiring an additional 2,486,986 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Robinhood Markets during the 4th quarter valued at about $84,165,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

HOOD stock opened at $22.89 on Thursday. The company’s 50 day moving average price is $20.39 and its 200 day moving average price is $16.68. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.28. The firm has a market capitalization of $20.12 billion, a price-to-earnings ratio of 152.60 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm had revenue of $618.00 million for the quarter, compared to analyst estimates of $552.74 million. During the same period in the prior year, the firm earned ($0.57) earnings per share. The business’s quarterly revenue was up 40.1% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on HOOD shares. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research report on Wednesday, June 26th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, June 6th. Mizuho boosted their price objective on shares of Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, May 6th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Finally, KeyCorp boosted their price objective on shares of Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.77.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 121,226 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $21.63, for a total transaction of $2,622,118.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $17.93, for a total value of $4,482,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 121,226 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $21.63, for a total value of $2,622,118.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,231,733 shares of company stock worth $23,852,641. Company insiders own 19.95% of the company’s stock.

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.