Nordea Investment Management AB Sells 2,965 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Nordea Investment Management AB cut its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,499 shares of the company’s stock after selling 2,965 shares during the quarter. Nordea Investment Management AB’s holdings in Robinhood Markets were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Central Pacific Bank Trust Division boosted its position in Robinhood Markets by 5.9% during the 4th quarter. Central Pacific Bank Trust Division now owns 32,301 shares of the company’s stock worth $1,204,000 after buying an additional 1,812 shares during the period. Everence Capital Management Inc. acquired a new stake in Robinhood Markets during the 4th quarter worth approximately $634,000. GAMMA Investing LLC boosted its position in Robinhood Markets by 49.3% during the 4th quarter. GAMMA Investing LLC now owns 5,858 shares of the company’s stock worth $218,000 after buying an additional 1,935 shares during the period. Versant Capital Management Inc boosted its position in Robinhood Markets by 6,799.1% during the 4th quarter. Versant Capital Management Inc now owns 22,974 shares of the company’s stock worth $856,000 after buying an additional 22,641 shares during the period. Finally, Garden State Investment Advisory Services LLC acquired a new stake in Robinhood Markets during the 3rd quarter worth approximately $263,000. 93.27% of the stock is owned by institutional investors.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $42.64, for a total value of $250,552.64. Following the transaction, the chief technology officer now owns 5,876 shares of the company’s stock, valued at approximately $250,552.64. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. The trade was a 97.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,708,196 shares of company stock valued at $138,845,043 over the last three months. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 1.8 %

NASDAQ:HOOD opened at $40.08 on Monday. The company has a fifty day moving average of $36.99 and a 200-day moving average of $27.49. The firm has a market capitalization of $35.43 billion, a P/E ratio of 67.93, a P/E/G ratio of 0.81 and a beta of 2.07. Robinhood Markets, Inc. has a twelve month low of $10.38 and a twelve month high of $43.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The business had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same quarter last year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, analysts anticipate that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, December 9th. Morgan Stanley upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $55.00 in a research report on Monday, November 25th. JPMorgan Chase & Co. upgraded shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $43.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $26.00 to $49.00 in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $42.13.

About Robinhood Markets

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.