TB Alternative Assets Ltd. Sells 1,608,500 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

TB Alternative Assets Ltd. reduced its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 55.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,288,000 shares of the company’s stock after selling 1,608,500 shares during the period. Robinhood Markets accounts for about 6.5% of TB Alternative Assets Ltd.’s portfolio, making the stock its 5th largest holding. TB Alternative Assets Ltd. owned about 0.15% of Robinhood Markets worth $25,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. Spire Wealth Management bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. lifted its holdings in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. Whittier Trust Co. lifted its stake in Robinhood Markets by 100.0% in the 4th quarter. Whittier Trust Co. now owns 4,634 shares of the company’s stock valued at $59,000 after purchasing an additional 2,317 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of Robinhood Markets during the fourth quarter valued at $89,000. Finally, International Assets Investment Management LLC raised its stake in shares of Robinhood Markets by 1,174.1% during the fourth quarter. International Assets Investment Management LLC now owns 7,326 shares of the company’s stock valued at $93,000 after acquiring an additional 6,751 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 121,226 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $21.63, for a total transaction of $2,622,118.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 121,226 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $21.63, for a total transaction of $2,622,118.38. The disclosure for this sale can be found here. Insiders have sold 1,486,733 shares of company stock valued at $28,618,091 in the last three months. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Up 0.8 %

Shares of NASDAQ:HOOD traded up $0.17 during midday 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. The firm has a 50 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 P/E ratio of 150.53 and a beta of 1.83. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results 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 firm had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The company’s revenue was up 40.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.57) EPS. On average, research analysts predict that Robinhood Markets, Inc. will post 0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HOOD. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, June 6th. Wolfe Research raised 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. Keefe, Bruyette & Woods initiated coverage on shares of Robinhood Markets in a research note on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 target price for the company. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research note on Friday, June 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.77.

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.