Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,125 shares of the company’s stock after selling 6,434 shares during the quarter. Principal Financial Group Inc.’s holdings in Robinhood Markets were worth $1,010,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. HM Payson & Co. boosted its holdings in shares of Robinhood Markets by 53.5% during the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank acquired a new stake in Robinhood Markets in the 3rd quarter worth about $30,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets in the 3rd quarter valued at about $33,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter valued at about $33,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth about $40,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $36.65 on Friday. Robinhood Markets, Inc. has a 12-month low of $8.13 and a 12-month high of $38.11. The company has a market capitalization of $32.40 billion, a price-to-earnings ratio of 62.12, a price-to-earnings-growth ratio of 0.82 and a beta of 1.84. The firm’s fifty day moving average price is $26.96 and its 200 day moving average price is $22.96.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) 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 analysts’ expectations of $660.53 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue was up 36.4% compared to the same quarter last year. Analysts forecast that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America upped their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group dropped their price objective on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Needham & Company LLC upgraded Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, November 18th. KeyCorp upped their price target on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.66.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 208,291 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the transaction, the insider now owns 346,020 shares in the company, valued at $8,643,579.60. This trade represents a 37.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,710,549 shares of company stock valued at $115,477,194 in the last three months. Corporate 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.