Handelsbanken Fonder AB Raises Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Handelsbanken Fonder AB lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,700 shares of the company’s stock after buying an additional 3,100 shares during the period. Handelsbanken Fonder AB’s holdings in Robinhood Markets were worth $4,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC boosted its position in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the period. State Street Corp boosted its holdings in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after purchasing an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Robinhood Markets by 19.5% in the third quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after purchasing an additional 1,895,427 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Robinhood Markets by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after purchasing an additional 1,137,677 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Robinhood Markets by 19.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after purchasing an additional 739,631 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 8.0 %

Shares of Robinhood Markets stock opened at $51.60 on Monday. The business’s 50 day simple moving average is $47.42 and its 200-day simple moving average is $34.03. The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a twelve month low of $13.59 and a twelve month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating 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%. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on HOOD. Citigroup increased their price target on Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Sanford C. Bernstein increased their price target on Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. KeyCorp increased their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Finally, Barclays upped their price objective on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.53.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the sale, the insider now directly owns 706,642 shares in the company, valued at $42,942,634.34. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the firm’s stock in a transaction that occurred on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares in the company, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,607 shares of company stock worth $200,784,430 in the last three months. 19.95% of the stock is owned by company insiders.

Robinhood Markets Company 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.