Robinhood Markets, Inc. $HOOD Shares Sold by Arrow Capital Pty Ltd

Arrow Capital Pty Ltd trimmed its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,000 shares of the company’s stock after selling 15,000 shares during the quarter. Robinhood Markets accounts for approximately 3.8% of Arrow Capital Pty Ltd’s investment portfolio, making the stock its 10th biggest holding. Arrow Capital Pty Ltd’s holdings in Robinhood Markets were worth $5,150,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HOOD. Vanguard Group Inc. boosted its position in Robinhood Markets by 1.8% during the second quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after purchasing an additional 1,371,051 shares in the last quarter. State Street Corp raised its stake in shares of Robinhood Markets by 9.2% during the 2nd quarter. State Street Corp now owns 15,870,421 shares of the company’s stock worth $1,485,948,000 after buying an additional 1,341,204 shares during the period. Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after buying an additional 507,926 shares during the period. WCM Investment Management LLC grew its stake in Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after acquiring an additional 11,244,182 shares during the period. Finally, Norges Bank acquired a new position in Robinhood Markets during the second quarter worth $973,122,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $135.71 on Wednesday. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The firm has a market capitalization of $122.03 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 3.07 and a beta of 2.43. The stock’s fifty day moving average is $133.14 and its two-hundred day moving average is $111.08.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HOOD. Zacks Research upgraded Robinhood Markets from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Citigroup increased their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. Cantor Fitzgerald increased their target price on Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group increased their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $136.95.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 49,942 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the transaction, the insider directly owned 54,496 shares of the company’s stock, valued at $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 1,330,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,686,763 shares of company stock worth $475,858,262 over the last ninety days. 19.95% of the stock is owned by insiders.

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.