Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Prana Capital Management LP

Prana Capital Management LP cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 59.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,799 shares of the company’s stock after selling 329,068 shares during the period. Prana Capital Management LP’s holdings in Robinhood Markets were worth $8,525,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HOOD. FMR LLC lifted its position in shares of Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the last quarter. Norges Bank bought a new position in Robinhood Markets in the fourth quarter worth about $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets in the fourth quarter worth about $302,325,000. Artisan Partners Limited Partnership bought a new position in Robinhood Markets in the fourth quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after acquiring an additional 3,994,745 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 223,528 shares of Robinhood Markets stock in a transaction dated 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 sale, the director now directly owns 5,042 shares in the company, valued at approximately $217,864.82. The trade was a 97.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 123,272 shares of Robinhood Markets stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the sale, the insider now owns 298,826 shares in the company, valued at approximately $16,674,490.80. This trade represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,840,014 shares of company stock worth $83,494,057. 14.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Barclays lowered 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 note on Monday, April 7th. Citigroup lowered their price objective on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Cantor Fitzgerald lowered their price objective on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $55.41.

Robinhood Markets Trading Down 1.9%

Robinhood Markets stock opened at $61.39 on Thursday. The company has a market capitalization of $54.36 billion, a P/E ratio of 39.10, a P/E/G ratio of 1.05 and a beta of 2.15. The firm’s fifty day simple moving average is $44.26 and its 200-day simple moving average is $43.08. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.