Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Holdings Lowered by Udine Wealth Management Inc.

Udine Wealth Management Inc. lessened its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 46.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,090 shares of the company’s stock after selling 40,037 shares during the period. Robinhood Markets accounts for 0.8% of Udine Wealth Management Inc.’s portfolio, making the stock its 26th biggest holding. Udine Wealth Management Inc.’s holdings in Robinhood Markets were worth $1,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the period. ORG Partners LLC acquired a new stake in Robinhood Markets during the second quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the first quarter worth $34,000. International Assets Investment Management LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $40,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $45,000. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft lifted their price target on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target for the company in a research report on Wednesday, June 26th. Barclays increased their price objective on Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday. KeyCorp increased their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Robinhood Markets presently has a consensus rating of “Hold” and an average price target of $23.83.

Robinhood Markets Stock Up 9.8 %

NASDAQ:HOOD opened at $25.61 on Wednesday. The stock’s 50 day moving average price is $20.71 and its 200 day moving average price is $20.46. The company has a market capitalization of $22.51 billion, a PE ratio of 170.73 and a beta of 1.84. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $25.80.

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

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.20, for a total value of $2,669,239.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $22.88, for a total value of $5,720,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,227,389 shares of company stock worth $24,238,940. 19.95% of the stock is currently owned by corporate insiders.

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.