APG Asset Management N.V. Sells 44,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

APG Asset Management N.V. lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 39.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 67,800 shares of the company’s stock after selling 44,000 shares during the period. APG Asset Management N.V.’s holdings in Robinhood Markets were worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HOOD. Angeles Wealth Management LLC raised its position in Robinhood Markets by 5.3% in the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after acquiring an additional 610 shares during the period. GAMMA Investing LLC raised its holdings in Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after purchasing an additional 710 shares during the period. PNC Financial Services Group Inc. lifted its position in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Commerce Bank lifted its position in Robinhood Markets by 7.9% during the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after purchasing an additional 917 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in Robinhood Markets by 25.8% during the first quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock valued at $117,000 after purchasing an additional 1,194 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Baiju Bhatt sold 139,916 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Insiders sold 1,204,096 shares of company stock valued at $23,603,793 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Trading Down 2.0 %

Shares of Robinhood Markets stock opened at $23.42 on Tuesday. Robinhood Markets, Inc. has a 12 month low of $7.91 and a 12 month high of $24.88. The stock has a 50 day moving average of $20.49 and a 200 day moving average of $20.25. The firm has a market cap of $20.58 billion, a PE ratio of 156.13 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last posted 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. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. During the same period last year, the firm posted $0.03 earnings per share. Robinhood Markets’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent research reports. Barclays raised Robinhood Markets from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Citigroup lifted their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler lifted their target price on shares of Robinhood Markets from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. increased their price target 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Hold” and a consensus price target of $23.63.

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.