Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by KBC Group NV

KBC Group NV lowered its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 61.5% during the third quarter, HoldingsChannel reports. The firm owned 601,989 shares of the company’s stock after selling 960,908 shares during the quarter. KBC Group NV’s holdings in Robinhood Markets were worth $14,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after buying an additional 3,817,355 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Sparta 24 Ltd. raised its holdings in Robinhood Markets by 905.8% during the third quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock worth $38,061,000 after purchasing an additional 1,463,578 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Robinhood Markets by 169.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock valued at $40,092,000 after purchasing an additional 1,251,495 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Robinhood Markets by 274.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock valued at $37,341,000 after purchasing an additional 1,218,317 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares in the company, valued at $735,988,413.52. This trade represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,710,549 shares of company stock valued at $115,477,194 over the last 90 days. Insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HOOD. The Goldman Sachs Group cut their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. KeyCorp increased their price objective on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Barclays boosted their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. 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. Finally, JMP Securities boosted their price objective on shares of Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.10.

Robinhood Markets Stock Up 0.3 %

NASDAQ HOOD opened at $32.32 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $34.32. The business has a fifty day moving average of $25.47 and a 200-day moving average of $22.29. The stock has a market cap of $28.57 billion, a price-to-earnings ratio of 54.78, a price-to-earnings-growth ratio of 0.76 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, analysts anticipate that Robinhood Markets, Inc. will post 0.72 EPS for the current year.

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.