TB Alternative Assets Ltd. Trims Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

TB Alternative Assets Ltd. lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 55.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,288,000 shares of the company’s stock after selling 1,608,500 shares during the period. Robinhood Markets makes up about 6.5% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 5th largest position. TB Alternative Assets Ltd.’s holdings in Robinhood Markets were worth $25,927,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Spire Wealth Management bought a new stake in Robinhood Markets in the fourth quarter worth $26,000. PNC Financial Services Group Inc. increased its position 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 worth $29,000 after purchasing an additional 722 shares during the last quarter. Whittier Trust Co. increased its position in Robinhood Markets by 100.0% in the fourth quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock worth $59,000 after purchasing an additional 2,317 shares during the last quarter. Financial Connections Group Inc. bought a new stake in Robinhood Markets in the fourth quarter worth $89,000. Finally, International Assets Investment Management LLC increased its position in Robinhood Markets by 1,174.1% in the fourth quarter. International Assets Investment Management LLC now owns 7,326 shares of the company’s stock worth $93,000 after purchasing an additional 6,751 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 0.8 %

NASDAQ:HOOD traded up $0.17 during mid-day trading on Wednesday, reaching $22.31. The company’s stock had a trading volume of 18,286,795 shares, compared to its average volume of 16,472,857. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.28. The stock has a fifty day moving average of $19.74 and a 200-day moving average of $16.26. The firm has a market capitalization of $19.61 billion, a PE ratio of 150.53 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. The company had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The firm’s revenue for the quarter was up 40.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.57) earnings per share. On average, analysts expect that Robinhood Markets, Inc. will post 0.56 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $18.67, for a total transaction of $4,667,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.59, for a total value of $97,950.00. Following the transaction, the chief financial officer now owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $18.67, for a total transaction of $4,667,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,486,733 shares of company stock valued at $28,618,091. 19.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, June 20th. Bank of America upgraded shares of Robinhood Markets from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $24.00 in a research report on Friday, May 17th. Citigroup boosted their price objective on shares of Robinhood Markets from $16.00 to $18.00 and gave the company a “sell” rating in a research report on Thursday, June 13th. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research report on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.77.

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.