Forsta AP Fonden Purchases New Shares in Robinhood Markets, Inc. (NASDAQ:HOOD)

Forsta AP Fonden acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 99,100 shares of the company’s stock, valued at approximately $2,251,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. Victory Capital Management Inc. increased its position in shares of Robinhood Markets by 12.5% during the 4th quarter. Victory Capital Management Inc. now owns 59,116 shares of the company’s stock valued at $753,000 after purchasing an additional 6,551 shares during the last quarter. Jump Financial LLC increased its holdings in Robinhood Markets by 86.6% during the fourth quarter. Jump Financial LLC now owns 24,700 shares of the company’s stock worth $315,000 after buying an additional 11,462 shares during the last quarter. QRG Capital Management Inc. raised its position in Robinhood Markets by 26.9% in the fourth quarter. QRG Capital Management Inc. now owns 13,310 shares of the company’s stock worth $170,000 after acquiring an additional 2,821 shares during the period. Dimensional Fund Advisors LP boosted its stake in Robinhood Markets by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock valued at $59,559,000 after acquiring an additional 672,648 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Robinhood Markets by 2.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 182,694 shares of the company’s stock valued at $2,154,000 after acquiring an additional 4,347 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $22.21 on Tuesday. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $24.88. The company’s 50-day simple moving average is $20.55 and its 200 day simple moving average is $19.82. The firm has a market capitalization of $19.52 billion, a P/E ratio of 148.07 and a beta of 1.82.

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

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,325,322 shares of company stock valued at $26,225,912. Insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on HOOD. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. Citigroup raised Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price target on the stock in a research report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. Morgan Stanley raised their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and lifted their target price for the company from $21.00 to $24.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Hold” and an average price target of $22.83.

Robinhood Markets 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.