Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 135,700 shares of the company’s stock after acquiring an additional 7,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Robinhood Markets were worth $5,648,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its stake in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares in the last quarter. CoreCap Advisors LLC grew its position in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the period. Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets during the fourth quarter worth about $34,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after buying an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $38.31, for a total transaction of $957,750.00. Following the completion of the sale, the insider now directly owns 822,825 shares of the company’s stock, valued at $31,522,425.75. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the transaction, the director now directly owns 5,042 shares in the company, valued at $217,864.82. This represents a 97.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,232,636 shares of company stock worth $111,898,793 in the last 90 days. Company insiders own 14.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HOOD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $71.00 price target on shares of Robinhood Markets in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a report on Monday. Citigroup lowered their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Barclays dropped their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $57.17.

Robinhood Markets Stock Down 1.4%

Shares of NASDAQ HOOD opened at $73.84 on Friday. The business has a 50-day moving average price of $55.45 and a 200 day moving average price of $48.40. The stock has a market cap of $65.38 billion, a PE ratio of 47.03, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $77.80.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets’s revenue was up 50.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.