DekaBank Deutsche Girozentrale Sells 25,700 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

DekaBank Deutsche Girozentrale lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 52.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,560 shares of the company’s stock after selling 25,700 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Robinhood Markets were worth $553,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of HOOD. PNC Financial Services Group Inc. increased its position in shares of Robinhood Markets by 46.5% during the 4th 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 during the last quarter. Diversified Trust Co bought a new position in Robinhood Markets in the 1st quarter valued at $278,000. Allspring Global Investments Holdings LLC purchased a new stake in Robinhood Markets in the first quarter worth $34,000. Principal Financial Group Inc. increased its stake in Robinhood Markets by 26.6% in the first quarter. Principal Financial Group Inc. now owns 53,661 shares of the company’s stock worth $1,080,000 after purchasing an additional 11,264 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in Robinhood Markets by 40.1% in the first quarter. Commonwealth Equity Services LLC now owns 46,101 shares of the company’s stock worth $928,000 after purchasing an additional 13,202 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 143,944 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,639,654 shares of company stock valued at $110,241,632. 19.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HOOD shares. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group reduced their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research note on Thursday. JMP Securities increased their target price on Robinhood Markets from $30.00 to $33.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods reduced their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.17.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $23.97 on Friday. The company has a market cap of $21.21 billion, a P/E ratio of 40.63 and a beta of 1.83. The stock’s 50-day moving average is $23.44 and its 200 day moving average is $21.43. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $28.58.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a return on equity of 7.61% and a net margin of 21.80%. Robinhood Markets’s revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. On average, analysts anticipate that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

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.