Forsta AP Fonden Grows Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Forsta AP Fonden grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 15.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,600 shares of the company’s stock after acquiring an additional 15,500 shares during the period. Forsta AP Fonden’s holdings in Robinhood Markets were worth $2,684,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HOOD. Allspring Global Investments Holdings LLC boosted its position in shares of Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after acquiring an additional 3,817,355 shares during the period. Renaissance Technologies LLC boosted its holdings in Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the period. Sparta 24 Ltd. grew its position in shares of Robinhood Markets by 905.8% during the 3rd quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock valued at $38,061,000 after purchasing an additional 1,463,578 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Robinhood Markets by 169.1% in 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. Finally, AQR Capital Management LLC raised its position in shares of Robinhood Markets by 274.7% in the second quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock worth $37,341,000 after buying an additional 1,218,317 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HOOD shares. Piper Sandler boosted their target price on Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley raised their target price on shares of Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Bank of America increased their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. One 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’s stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus target price of $24.97.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $28.21 on Thursday. The stock has a market capitalization of $24.96 billion, a P/E ratio of 85.48 and a beta of 1.84. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $28.58. The business’s 50 day simple moving average is $23.32 and its two-hundred day simple moving average is $21.34.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. Sell-side analysts expect that Robinhood Markets, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 ninety days, insiders sold 4,639,654 shares of company stock valued at $110,241,632. 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.