Handelsbanken Fonder AB Purchases 21,100 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Handelsbanken Fonder AB lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 20.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,600 shares of the company’s stock after buying an additional 21,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Robinhood Markets were worth $2,942,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HOOD. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Robinhood Markets by 21,404.0% during the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after acquiring an additional 96,318 shares in the last quarter. UniSuper Management Pty Ltd raised its position in shares of Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after purchasing an additional 2,700 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Robinhood Markets in the 4th quarter worth about $8,299,000. Finally, O Neil Global Advisors Inc. bought a new position in Robinhood Markets in the 2nd quarter worth about $2,298,000. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HOOD shares. Bank of America increased their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Piper Sandler reiterated an “overweight” rating and set a $27.00 target price on shares of Robinhood Markets in a research note on Tuesday. JMP Securities restated a “market outperform” rating and issued a $30.00 price target on shares of Robinhood Markets in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Finally, Barclays boosted their target price on Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of “Hold” and an average target price of $23.83.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total transaction of $2,696,071.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,227,389 shares of company stock worth $24,238,940. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $25.61 on Wednesday. The business’s 50-day moving average is $20.71 and its two-hundred day moving average is $20.46. The company has a market capitalization of $22.51 billion, a P/E ratio of 170.73 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 $25.80.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

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.