Skandinaviska Enskilda Banken AB publ Acquires 8,200 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 104,414 shares of the company’s stock after acquiring an additional 8,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Robinhood Markets were worth $2,371,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the last quarter. ORG Partners LLC purchased a new stake in Robinhood Markets in the 2nd quarter valued at about $33,000. Allspring Global Investments Holdings LLC bought a new position in Robinhood Markets in the 1st quarter worth about $34,000. International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets during the second quarter worth approximately $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America raised their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Piper Sandler raised their price target on Robinhood Markets from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. Citigroup upgraded shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price target for the company in a report on Monday, August 5th. Finally, KeyCorp upped their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.10.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the transaction, the insider now directly owns 956,247 shares of the company’s stock, valued at approximately $21,802,431.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now owns 956,247 shares in the company, valued at $21,802,431.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,204,096 shares of company stock worth $23,603,793. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $22.70 on Tuesday. The stock’s fifty day moving average price is $20.56 and its 200 day moving average price is $20.05. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $24.88. The company has a market cap of $19.95 billion, a price-to-earnings ratio of 151.33 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.76 earnings per share for the current 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.