Raymond James & Associates Reduces Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Raymond James & Associates lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 18.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,854 shares of the company’s stock after selling 5,993 shares during the quarter. Raymond James & Associates’ holdings in Robinhood Markets were worth $329,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in HOOD. CWM LLC grew its holdings in shares of Robinhood Markets by 61.1% during the third quarter. CWM LLC now owns 8,488 shares of the company’s stock worth $83,000 after purchasing an additional 3,219 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Robinhood Markets during the third quarter worth about $1,449,000. Exchange Traded Concepts LLC grew its holdings in shares of Robinhood Markets by 174.1% during the third quarter. Exchange Traded Concepts LLC now owns 11,631 shares of the company’s stock worth $114,000 after purchasing an additional 7,387 shares during the last quarter. Oak Thistle LLC grew its holdings in shares of Robinhood Markets by 75.8% during the third quarter. Oak Thistle LLC now owns 45,461 shares of the company’s stock worth $446,000 after purchasing an additional 19,597 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Robinhood Markets by 2,933.5% during the third quarter. Asset Management One Co. Ltd. now owns 174,819 shares of the company’s stock worth $1,715,000 after buying an additional 169,056 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 4.4 %

HOOD stock opened at $17.88 on Monday. The firm has a 50 day moving average of $17.38 and a 200-day moving average of $12.97. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $20.55. The company has a market cap of $15.64 billion, a price-to-earnings ratio of -29.80 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The company had revenue of $471.00 million during the quarter, compared to the consensus estimate of $454.73 million. During the same period last year, the firm earned ($0.19) EPS. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. Sell-side analysts forecast that Robinhood Markets, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 60,895 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $14.43, for a total transaction of $878,714.85. Following the transaction, the insider now directly owns 350,769 shares of the company’s stock, valued at $5,061,596.67. The disclosure for this sale can be found here. In the last three months, insiders sold 2,382,977 shares of company stock worth $36,496,582. Company insiders own 20.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HOOD shares. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. KeyCorp increased their target price on shares of Robinhood Markets from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Mizuho increased their target price on shares of Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. increased their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Finally, Citigroup downgraded shares of Robinhood Markets from a “neutral” rating to a “sell” rating and increased their target price for the stock from $13.00 to $16.00 in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.88.

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.