Nordea Investment Management AB Sells 2,965 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Nordea Investment Management AB decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,499 shares of the company’s stock after selling 2,965 shares during the quarter. Nordea Investment Management AB’s holdings in Robinhood Markets were worth $1,480,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HM Payson & Co. boosted its holdings in 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. True Wealth Design LLC acquired a new stake in Robinhood Markets in the third quarter valued at $30,000. Eastern Bank acquired a new stake in Robinhood Markets in the third quarter valued at $30,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets in the third quarter valued at $33,000. Finally, Connective Portfolio Management LLC acquired a new stake in Robinhood Markets in the third quarter valued at $47,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on HOOD shares. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, December 9th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Sanford C. Bernstein increased their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $24.00 to $55.00 in a research note on Monday, November 25th. Finally, Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $26.00 to $49.00 in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $40.08 on Monday. Robinhood Markets, Inc. has a 52 week low of $10.38 and a 52 week high of $43.83. The firm has a market cap of $35.43 billion, a price-to-earnings ratio of 67.93, a P/E/G ratio of 0.81 and a beta of 2.07. The firm’s 50-day simple moving average is $36.99 and its 200 day simple moving average is $27.49.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 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 the consensus estimate of $660.53 million. During the same period in the prior year, the business posted ($0.09) earnings per share. Robinhood Markets’s revenue was up 36.4% compared to the same quarter last year. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.8 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the transaction, the insider now directly owns 731,642 shares of the company’s stock, valued at $29,594,918.90. This trade represents a 12.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the transaction, the chief technology officer now directly owns 5,876 shares in the company, valued at approximately $250,552.64. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,708,196 shares of company stock valued at $138,845,043. 19.95% of the stock is owned by company 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.