Lansforsakringar Fondforvaltning AB publ Boosts Stock Holdings in Robinhood Markets, Inc. $HOOD

Lansforsakringar Fondforvaltning AB publ increased its stake in Robinhood Markets, Inc. (NASDAQ:HOODFree Report) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,740 shares of the company’s stock after acquiring an additional 9,475 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Robinhood Markets were worth $33,037,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Caisse Des Depots ET Consignations purchased a new position in Robinhood Markets in the 3rd quarter valued at $3,984,000. Jennison Associates LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter worth $322,823,000. Aberdeen Group plc increased its stake in shares of Robinhood Markets by 565.1% during the third quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock worth $26,565,000 after acquiring an additional 157,643 shares during the period. New York Life Investment Management LLC acquired a new stake in Robinhood Markets in the third quarter valued at about $14,989,000. Finally, NEOS Investment Management LLC purchased a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $11,994,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HOOD shares. Piper Sandler dropped their price objective on Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Monday, December 22nd. Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. The Goldman Sachs Group dropped their target price on shares of Robinhood Markets from $152.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Finally, Wall Street Zen lowered Robinhood Markets from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.71.

Get Our Latest Analysis on HOOD

Robinhood Markets Stock Up 0.6%

Shares of Robinhood Markets stock opened at $76.11 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The business’s fifty day moving average is $103.45 and its two-hundred day moving average is $117.25. The firm has a market cap of $68.44 billion, a PE ratio of 36.95, a P/E/G ratio of 1.29 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Steven M. Quirk sold 52,540 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $87.81, for a total value of $4,613,537.40. Following the completion of the sale, the insider directly owned 27,564 shares in the company, valued at approximately $2,420,394.84. This represents a 65.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $121.63, for a total value of $45,611,250.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 706,413 shares of company stock worth $85,161,009. 14.47% of the stock is currently owned by corporate insiders.

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About Robinhood Markets

(Free Report)

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.

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Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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