Private Advisor Group LLC Sells 17,388 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Private Advisor Group LLC cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 17.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,133 shares of the company’s stock after selling 17,388 shares during the quarter. Private Advisor Group LLC’s holdings in Robinhood Markets were worth $1,865,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Robinhood Markets in the 4th quarter valued at about $84,165,000. Price T Rowe Associates Inc. MD increased its stake in shares of Robinhood Markets by 169.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after purchasing an additional 1,251,495 shares during the period. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after purchasing an additional 1,003,535 shares during the period. Scout Investments Inc. bought a new stake in Robinhood Markets in the 1st quarter valued at $18,563,000. Finally, Railway Pension Investments Ltd grew its holdings in Robinhood Markets by 52.6% in the 1st quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company’s stock valued at $48,172,000 after buying an additional 825,307 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HOOD. JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. Piper Sandler upgraded shares of Robinhood Markets from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $20.00 to $23.00 in a research report on Monday, August 12th. Citigroup raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Monday, August 5th. The Goldman Sachs Group boosted their price target on Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Hold” and a consensus target price of $22.83.

Robinhood Markets Trading Up 2.0 %

HOOD opened at $22.07 on Friday. The company’s 50 day moving average is $20.55 and its 200-day moving average is $19.73. The company has a market cap of $19.52 billion, a P/E ratio of 147.13 and a beta of 1.82. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the business posted $0.03 earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,325,322 shares of company stock valued at $26,225,912 in the last 90 days. Corporate insiders own 19.95% of the company’s stock.

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.