Forsta AP Fonden Decreases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Forsta AP Fonden cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,900 shares of the company’s stock after selling 1,700 shares during the quarter. Forsta AP Fonden’s holdings in Robinhood Markets were worth $4,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in Robinhood Markets by 64.1% in the 2nd quarter. Sei Investments Co. now owns 61,754 shares of the company’s stock worth $1,402,000 after buying an additional 24,129 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Robinhood Markets by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 139,902 shares of the company’s stock worth $3,177,000 after acquiring an additional 11,146 shares during the period. Creative Planning grew its position in shares of Robinhood Markets by 142.8% in the second quarter. Creative Planning now owns 26,290 shares of the company’s stock valued at $597,000 after purchasing an additional 15,464 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Robinhood Markets by 58,832.8% during the 2nd quarter. NewEdge Advisors LLC now owns 39,485 shares of the company’s stock valued at $897,000 after purchasing an additional 39,418 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Robinhood Markets by 26.2% during the 2nd quarter. Cetera Investment Advisers now owns 66,341 shares of the company’s stock worth $1,507,000 after purchasing an additional 13,792 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. KeyCorp upped their price target on Robinhood Markets from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup increased their target price on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Piper Sandler increased their price objective on Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Barclays boosted their target price on Robinhood Markets from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $43.73.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 108,964 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.92, for a total transaction of $2,715,382.88. Following the completion of the sale, the director now owns 2,521 shares of the company’s stock, valued at approximately $62,823.32. This represents a 97.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, November 4th. The stock was sold at an average price of $24.21, for a total transaction of $6,052,500.00. The disclosure for this sale can be found here. Insiders sold a total of 4,297,400 shares of company stock worth $170,630,852 over the last three months. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of HOOD opened at $51.95 on Friday. The firm has a market cap of $45.92 billion, a P/E ratio of 88.05, a P/E/G ratio of 0.69 and a beta of 2.07. Robinhood Markets, Inc. has a 1 year low of $10.51 and a 1 year high of $53.51. The stock has a 50 day simple moving average of $41.88 and a two-hundred day simple moving average of $30.14.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 0.97 earnings per share 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.