Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Titleist Asset Management LLC

Titleist Asset Management LLC decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 34.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,545 shares of the company’s stock after selling 16,295 shares during the quarter. Titleist Asset Management LLC’s holdings in Robinhood Markets were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Robinhood Markets by 2.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after acquiring an additional 277 shares during the period. Spire Wealth Management boosted its position in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after acquiring an additional 549 shares during the last quarter. Allworth Financial LP increased its position in Robinhood Markets by 130.7% during the fourth quarter. Allworth Financial LP now owns 1,135 shares of the company’s stock worth $42,000 after purchasing an additional 643 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets during the fourth quarter worth approximately $26,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 9.8 %

Shares of Robinhood Markets stock opened at $34.51 on Monday. The business has a 50-day moving average price of $48.15 and a 200 day moving average price of $38.93. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The firm has a market cap of $30.56 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 90,866 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $45.27, for a total transaction of $4,113,503.82. Following the sale, the director now directly owns 5,042 shares in the company, valued at approximately $228,251.34. This represents a 94.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,621,134 shares of company stock valued at $131,646,496. Company insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on HOOD shares. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Morgan Stanley raised their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC decreased their price objective on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. increased their price target on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $60.24.

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.