Truist Financial Corp Has $646,000 Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Truist Financial Corp lessened its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,437 shares of the company’s stock after selling 935 shares during the quarter. Truist Financial Corp’s holdings in Robinhood Markets were worth $646,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the period. ORG Partners LLC bought a new stake in Robinhood Markets in the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Robinhood Markets during the 1st quarter valued at approximately $34,000. International Assets Investment Management LLC bought a new position in Robinhood Markets during the 2nd quarter worth approximately $40,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter worth approximately $45,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

HOOD opened at $26.80 on Wednesday. The firm has a market cap of $23.55 billion, a P/E ratio of 178.67 and a beta of 1.84. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $27.33. The firm has a 50-day moving average of $21.49 and a 200 day moving average of $20.69.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results 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. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. During the same quarter last year, the business posted $0.03 EPS. Robinhood Markets’s quarterly revenue was up 40.3% compared to the same quarter last year. Equities research analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,541,250 shares of company stock worth $107,643,767 over the last ninety days. 19.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Barclays upped their target price on Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. KeyCorp upped their price objective on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Citigroup boosted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.10.

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.