Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stock Position in Robinhood Markets, Inc. $HOOD

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,400 shares of the company’s stock after buying an additional 31,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Robinhood Markets were worth $15,112,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. WCM Investment Management LLC increased its stake in shares of Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Robinhood Markets in the second quarter worth $951,479,000. AGF Management Ltd. increased its stake in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after buying an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock valued at $201,913,000 after acquiring an additional 131,620 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $147.53, for a total transaction of $865,115.92. Following the sale, the chief technology officer directly owned 11,952 shares in the company, valued at $1,763,278.56. This trade represents a 32.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,175,598 shares of company stock worth $579,779,430 over the last three months. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HOOD. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Compass Point reissued a “buy” rating on shares of Robinhood Markets in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Citizens Jmp boosted their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a research report on Thursday, October 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $122.85.

Robinhood Markets Stock Performance

Shares of HOOD opened at $146.25 on Wednesday. The stock has a market cap of $129.97 billion, a PE ratio of 74.24, a price-to-earnings-growth ratio of 3.79 and a beta of 2.42. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The firm’s 50-day simple moving average is $124.80 and its two-hundred day simple moving average is $94.51.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s revenue was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS 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.