IFM Investors Pty Ltd Lowers Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

IFM Investors Pty Ltd decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,240 shares of the company’s stock after selling 1,382 shares during the quarter. IFM Investors Pty Ltd’s holdings in Robinhood Markets were worth $1,917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HOOD. Norges Bank purchased a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $84,165,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Robinhood Markets by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after purchasing an additional 2,517,012 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in Robinhood Markets by 9.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after acquiring an additional 2,486,986 shares during the last quarter. Vanguard Group Inc. lifted its stake in Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after acquiring an additional 2,459,702 shares during the last quarter. Finally, ARK Investment Management LLC lifted its stake in Robinhood Markets by 6.4% in the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after acquiring an additional 2,101,325 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 154,160 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $17.61, for a total transaction of $2,714,757.60. Following the transaction, the director now directly owns 36,045 shares of the company’s stock, valued at approximately $634,752.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Baiju Bhatt sold 154,160 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $17.61, for a total value of $2,714,757.60. Following the sale, the director now directly owns 36,045 shares in the company, valued at approximately $634,752.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.12, for a total transaction of $7,560,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,382,977 shares of company stock valued at $36,496,582 in the last ninety days. 20.81% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

HOOD traded up $0.76 during trading on Friday, hitting $17.88. The stock had a trading volume of 8,203,870 shares, compared to its average volume of 9,817,169. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $20.55. The firm has a market capitalization of $15.64 billion, a P/E ratio of -29.80 and a beta of 1.69. The company’s 50-day moving average price is $17.38 and its 200 day moving average price is $12.97.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. During the same period in the prior year, the company posted ($0.19) EPS. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, equities analysts expect that Robinhood Markets, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Barclays lifted their price target on shares of Robinhood Markets from $11.00 to $16.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Citigroup downgraded shares of Robinhood Markets from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $13.00 to $16.00 in a research note on Thursday, April 11th. KeyCorp boosted their price objective on shares of Robinhood Markets from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.88.

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.