Swedbank AB Lowers Holdings in Robinhood Markets, Inc. $HOOD

Swedbank AB lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 371,024 shares of the company’s stock after selling 13,035 shares during the period. Swedbank AB’s holdings in Robinhood Markets were worth $41,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. Vanguard Group Inc. boosted its holdings in Robinhood Markets by 24.9% in the third quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after purchasing an additional 18,824,923 shares during the period. State Street Corp lifted its holdings in shares of Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after purchasing an additional 16,375,734 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Robinhood Markets by 95.7% in the 4th quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock valued at $499,001,000 after purchasing an additional 2,157,372 shares during the last quarter. Northern Trust Corp increased its position in Robinhood Markets by 48.5% in the 3rd quarter. Northern Trust Corp now owns 6,157,337 shares of the company’s stock valued at $881,608,000 after acquiring an additional 2,011,820 shares during the period. Finally, Clear Street Group Inc. acquired a new position in Robinhood Markets in the 3rd quarter valued at about $241,200,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Robinhood Markets in a report on Tuesday, April 14th. New Street Research set a $122.00 price objective on Robinhood Markets in a research report on Thursday, March 5th. Piper Sandler cut their price objective on Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Mizuho upped their price objective on Robinhood Markets from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Finally, Needham & Company LLC dropped their price objective on Robinhood Markets from $95.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.88.

Robinhood Markets Price Performance

HOOD opened at $73.64 on Monday. The firm has a market cap of $66.31 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.39 and a beta of 2.29. Robinhood Markets, Inc. has a fifty-two week low of $62.63 and a fifty-two week high of $153.86. The company’s 50-day moving average price is $76.11 and its 200 day moving average price is $96.12.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted $0.37 EPS. Robinhood Markets’s revenue for the quarter was up 15.1% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets, Inc. will post 1.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $69.85, for a total transaction of $407,574.75. Following the completion of the sale, the chief technology officer directly owned 18,006 shares in the company, valued at approximately $1,257,719.10. This trade represents a 24.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the sale, the insider owned 432,849 shares of the company’s stock, valued at $33,281,759.61. The trade was a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 560,765 shares of company stock valued at $40,946,840. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.