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

Blueshift Asset Management LLC reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 59.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 58,409 shares of the company’s stock after selling 86,532 shares during the period. Robinhood Markets accounts for about 0.8% of Blueshift Asset Management LLC’s portfolio, making the stock its 16th biggest position. Blueshift Asset Management LLC’s holdings in Robinhood Markets were worth $2,176,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. iA Global Asset Management Inc. acquired a new stake in Robinhood Markets in the fourth quarter worth approximately $5,101,000. Magnetar Financial LLC acquired a new stake in Robinhood Markets in the 4th quarter valued at about $3,622,000. Trivest Advisors Ltd lifted its stake in Robinhood Markets by 145.6% during the fourth quarter. Trivest Advisors Ltd now owns 1,525,400 shares of the company’s stock valued at $56,836,000 after purchasing an additional 904,400 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Robinhood Markets during the 4th quarter worth $141,000. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Robinhood Markets during the 4th quarter worth $463,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HOOD shares. Piper Sandler increased their price target on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft dropped their price target on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, JMP Securities increased their price objective on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $49.02, for a total transaction of $1,225,500.00. Following the transaction, the insider now directly owns 822,893 shares in the company, valued at $40,338,214.86. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of Robinhood Markets stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at $445,635.84. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,985,127 shares of company stock worth $142,455,378 over the last three months. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $42.80 on Thursday. 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 fifty day moving average price of $48.90 and a two-hundred day moving average price of $36.94. The firm has a market cap of $37.90 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.