Robinhood Markets, Inc. $HOOD Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 43.3% during the second quarter, Holdings Channel reports. The fund owned 1,633,498 shares of the company’s stock after selling 1,247,802 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Robinhood Markets were worth $150,821,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Almanack Investment Partners LLC. acquired a new stake in shares of Robinhood Markets during the second quarter valued at $1,191,000. LRI Investments LLC boosted its stake in shares of Robinhood Markets by 115.5% during the second quarter. LRI Investments LLC now owns 1,241 shares of the company’s stock valued at $116,000 after acquiring an additional 665 shares during the last quarter. Alta Advisers Ltd acquired a new stake in shares of Robinhood Markets during the second quarter valued at $369,000. Commonwealth Financial Services LLC acquired a new stake in shares of Robinhood Markets during the second quarter valued at $586,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Robinhood Markets by 29.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 58,609 shares of the company’s stock valued at $5,488,000 after acquiring an additional 13,477 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HOOD shares. Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Mizuho increased their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Needham & Company LLC increased their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, The Goldman Sachs Group increased their target price on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.94.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $138.96 on Monday. Robinhood Markets, Inc. has a one year low of $23.00 and a one year high of $153.86. The company’s 50 day moving average price is $118.70 and its 200 day moving average price is $86.38. The firm has a market capitalization of $123.49 billion, a price-to-earnings ratio of 70.54, a PEG ratio of 3.77 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same quarter last year, the firm posted $0.21 earnings per share. Robinhood Markets’s revenue for the quarter was up 45.0% compared to the same quarter last year. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. Insiders have sold a total of 5,566,947 shares of company stock valued at $606,609,792 in the last three months. 19.95% of the stock is owned by company insiders.

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.