Robinhood Markets, Inc. $HOOD Shares Sold by Udine Wealth Management Inc.

Udine Wealth Management Inc. reduced its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 29.4% during the 3rd quarter, Holdings Channel reports. The fund owned 38,148 shares of the company’s stock after selling 15,892 shares during the quarter. Robinhood Markets makes up approximately 2.6% of Udine Wealth Management Inc.’s portfolio, making the stock its 10th biggest position. Udine Wealth Management Inc.’s holdings in Robinhood Markets were worth $5,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC boosted its stake in 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 shares of Robinhood Markets in the second quarter valued at about $973,122,000. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets during the 2nd quarter worth about $951,479,000. Paradigm Operations LP acquired a new position in Robinhood Markets during the 2nd quarter worth about $308,979,000. Finally, Invesco Ltd. grew its holdings in Robinhood Markets by 81.0% during the 2nd quarter. Invesco Ltd. now owns 4,942,533 shares of the company’s stock worth $462,769,000 after acquiring an additional 2,212,487 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HOOD. JMP Securities boosted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Truist Financial initiated coverage on shares of Robinhood Markets in a research report on Wednesday, December 17th. They issued a “buy” rating and a $155.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a research report on Monday, December 22nd. Morgan Stanley lifted their target price on Robinhood Markets from $146.00 to $147.00 and gave the company an “equal weight” rating in a research note on Monday, December 22nd. Finally, Needham & Company LLC cut their price target on Robinhood Markets from $145.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.62.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $116.56, for a total value of $48,761,477.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.59, for a total transaction of $713,003.76. Following the transaction, the chief technology officer directly owned 14,997 shares in the company, valued at $1,823,485.23. The trade was a 28.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,296,763 shares of company stock worth $414,016,996 over the last quarter. Insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Down 0.5%

HOOD stock opened at $119.67 on Thursday. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company has a market cap of $107.61 billion, a P/E ratio of 49.66, a price-to-earnings-growth ratio of 1.82 and a beta of 2.44. The business’s fifty day moving average is $121.94 and its 200-day moving average is $119.03.

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

About Robinhood Markets

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.