Assenagon Asset Management S.A. Trims Holdings in Robinhood Markets, Inc. $HOOD

Assenagon Asset Management S.A. decreased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 42.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 560,986 shares of the company’s stock after selling 418,767 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Robinhood Markets worth $80,322,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in HOOD. WCM Investment Management LLC increased its stake in shares of Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares in the last quarter. Norges Bank bought a new position in Robinhood Markets in the 2nd quarter worth $973,122,000. Kingstone Capital Partners Texas LLC purchased a new stake in Robinhood Markets in the 2nd quarter worth $951,479,000. Paradigm Operations LP bought a new stake in Robinhood Markets during the second quarter valued at about $308,979,000. Finally, Altimeter Capital Management LP bought a new stake in Robinhood Markets during the first quarter valued at about $120,103,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $115.80 on Thursday. The stock has a market capitalization of $104.13 billion, a PE ratio of 48.05, a P/E/G ratio of 2.40 and a beta of 2.43. The company’s fifty day moving average is $130.25 and its 200 day moving average is $113.14. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HOOD shares. Piper Sandler reaffirmed an “overweight” rating on shares of Robinhood Markets in a research note on Wednesday, November 26th. Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Citizens Jmp increased their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Bank of America dropped their target price on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $137.25.

Insider Buying and Selling

In other Robinhood Markets news, 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total value of $6,549,893.30. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,686,763 shares of company stock worth $475,858,262. Insiders own 14.47% of the company’s stock.

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.