10,629,175 Shares in Robinhood Markets, Inc. $HOOD Purchased by Norges Bank

Norges Bank acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOODFree Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 10,629,175 shares of the company’s stock, valued at approximately $1,202,160,000.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings in Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Vision Financial Markets LLC increased its holdings in Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Guerra Advisors Inc bought a new stake in Robinhood Markets in the 3rd quarter worth about $30,000. CYBER HORNET ETFs LLC increased its holdings in Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock worth $26,000 after buying an additional 190 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new stake in Robinhood Markets in the 4th quarter worth about $27,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets News Roundup

Here are the key news stories impacting Robinhood Markets this week:

Robinhood Markets Stock Up 11.2%

HOOD stock opened at $94.30 on Friday. Robinhood Markets, Inc. has a twelve month low of $62.92 and a twelve month high of $153.86. The stock has a market cap of $84.92 billion, a P/E ratio of 45.56, a PEG ratio of 2.94 and a beta of 2.29. The business’s 50-day moving average price is $76.63 and its 200-day moving average price is $94.51.

Robinhood Markets (NASDAQ:HOODGet Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of Robinhood Markets stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $69.85, for a total transaction of $407,574.75. Following the transaction, the chief technology officer directly owned 18,006 shares of the company’s stock, valued at $1,257,719.10. The trade was a 24.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $69.83, for a total value of $26,186,250.00. Following the transaction, the chief executive officer directly owned 375,000 shares in the company, valued at approximately $26,186,250. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 560,765 shares of company stock worth $40,946,840. 14.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on HOOD. Barclays reduced their price objective on Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Keefe, Bruyette & Woods cut their price target on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Jefferies Financial Group cut their price target on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Monday, April 6th. KeyCorp cut their price target on Robinhood Markets from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, Morgan Stanley cut their price target on Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Nineteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $106.38.

Get Our Latest Analysis on HOOD

Robinhood Markets Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOODFree Report).

Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

Receive News & Ratings for Robinhood Markets Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robinhood Markets and related companies with MarketBeat.com's FREE daily email newsletter.