Robinhood Markets, Inc. $HOOD Stock Position Reduced by Plato Investment Management Ltd

Plato Investment Management Ltd decreased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 40.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,167 shares of the company’s stock after selling 2,840 shares during the quarter. Plato Investment Management Ltd’s holdings in Robinhood Markets were worth $389,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. AlphaStar Capital Management LLC acquired a new stake in Robinhood Markets in the second quarter valued at approximately $1,214,000. Kovack Advisors Inc. bought a new position in shares of Robinhood Markets during the 2nd quarter valued at $376,000. Moody Aldrich Partners LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $233,000. Simon Quick Advisors LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $469,000. Finally, Strs Ohio boosted its holdings in Robinhood Markets by 2.6% in the second quarter. Strs Ohio now owns 276,390 shares of the company’s stock worth $25,878,000 after purchasing an additional 6,914 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $146.91, for a total value of $861,480.24. Following the completion of the sale, the chief technology officer owned 6,088 shares in the company, valued at approximately $894,388.08. This represents a 49.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 60,113 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the sale, the insider directly owned 94,454 shares of the company’s stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,312,392 shares of company stock valued at $393,476,209 over the last three months. Insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $147.08 on Tuesday. The company has a market capitalization of $130.71 billion, a PE ratio of 74.66, a price-to-earnings-growth ratio of 3.81 and a beta of 2.42. The business has a 50 day simple moving average of $127.76 and a 200 day simple moving average of $97.74. Robinhood Markets, Inc. has a one year low of $23.54 and a one year high of $153.86.

Analyst Ratings Changes

Several equities analysts have weighed in on HOOD shares. Compass Point restated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. KeyCorp lifted their price target on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC upped their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Cantor Fitzgerald boosted their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley increased their target price on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $125.10.

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.