Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 14.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 496,674 shares of the company’s stock after selling 80,856 shares during the period. Russell Investments Group Ltd.’s holdings in Robinhood Markets were worth $6,328,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HOOD. DekaBank Deutsche Girozentrale boosted its holdings in shares of Robinhood Markets by 4.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after purchasing an additional 1,060 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Robinhood Markets by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 291,573 shares of the company’s stock valued at $2,860,000 after acquiring an additional 1,480 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Robinhood Markets by 6.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 23,591 shares of the company’s stock valued at $301,000 after acquiring an additional 1,494 shares during the period. Axxcess Wealth Management LLC increased its stake in Robinhood Markets by 7.9% during the third quarter. Axxcess Wealth Management LLC now owns 21,998 shares of the company’s stock worth $216,000 after acquiring an additional 1,606 shares during the last quarter. Finally, FDx Advisors Inc. raised its holdings in shares of Robinhood Markets by 8.5% in the 3rd quarter. FDx Advisors Inc. now owns 21,570 shares of the company’s stock worth $212,000 after purchasing an additional 1,698 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 0.8 %

Shares of HOOD opened at $17.85 on Thursday. The firm has a market cap of $15.61 billion, a price-to-earnings ratio of -29.75 and a beta of 1.74. The business’s 50 day moving average is $17.78 and its two-hundred day moving average is $13.37. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 business had revenue of $471.00 million during the quarter, compared to analyst estimates of $454.73 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The business’s revenue was up 23.9% compared to the same quarter last year. On average, equities analysts expect that Robinhood Markets, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 916,267 shares in the company, valued at $10,995,204. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.12, for a total value of $7,560,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,413,026 shares of company stock worth $38,927,267. 20.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HOOD. Barclays increased their target price on shares of Robinhood Markets from $11.00 to $16.00 and gave the stock an “underweight” rating in a research report on Monday, April 8th. Sanford C. Bernstein assumed coverage on shares of Robinhood Markets in a research note on Thursday, March 14th. They issued an “outperform” rating and a $30.00 target price on the stock. Morgan Stanley upped their price target on shares of Robinhood Markets from $11.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JMP Securities increased their price target on Robinhood Markets from $25.00 to $28.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group boosted their price objective on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.96.

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.