Livforsakringsbolaget Skandia Omsesidigt Acquires New Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,800 shares of the company’s stock, valued at approximately $89,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in shares of 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 during the last quarter. ORG Partners LLC bought a new position in shares of Robinhood Markets during the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets during the first quarter valued at approximately $34,000. International Assets Investment Management LLC bought a new position in shares of Robinhood Markets during the second quarter valued at approximately $40,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the second quarter valued at approximately $45,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $26.80 on Wednesday. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 178.67 and a beta of 1.84. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $27.33. The company has a 50 day moving average price of $21.49 and a 200 day moving average price of $20.69.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 30th. Bank of America boosted their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. KeyCorp boosted their price objective on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods reduced their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Hold” and a consensus target price of $24.10.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 4,541,250 shares of company stock valued at $107,643,767. 19.95% of the stock is owned by corporate insiders.

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.