SRN Advisors LLC Trims Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

SRN Advisors LLC decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 65.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,722 shares of the company’s stock after selling 64,000 shares during the period. SRN Advisors LLC’s holdings in Robinhood Markets were worth $1,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Robinhood Markets by 7.8% during the fourth quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after acquiring an additional 277 shares during the period. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Commerce Bank increased its position in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock worth $310,000 after purchasing an additional 423 shares during the period. Signaturefd LLC raised its stake in shares of Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock worth $80,000 after buying an additional 487 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in shares of Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after buying an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wolfe Research cut Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Citigroup upped their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, JMP Securities boosted their price target on Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Stock Up 6.4 %

Shares of Robinhood Markets stock opened at $48.85 on Thursday. The firm has a market cap of $43.18 billion, a PE ratio of 31.11, a P/E/G ratio of 1.05 and a beta of 2.13. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $66.91. The business’s fifty day moving average is $47.87 and its two-hundred day moving average is $34.56.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $55.80, for a total transaction of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares of the company’s stock, valued at $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 186,514 shares of Robinhood Markets stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the completion of the transaction, the director now owns 2,521 shares in the company, valued at approximately $96,125.73. This trade represents a 98.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,643,879 shares of company stock valued at $207,663,007. 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.