Tower Research Capital LLC TRC Lowers Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Tower Research Capital LLC TRC trimmed its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 68.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,360 shares of the company’s stock after selling 7,219 shares during the period. Tower Research Capital LLC TRC’s holdings in Robinhood Markets were worth $43,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 4.5% during the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after purchasing an additional 2,459,702 shares during the last quarter. ARK Investment Management LLC raised its holdings in Robinhood Markets by 6.4% in the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after acquiring an additional 2,101,325 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Robinhood Markets by 9.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after acquiring an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Robinhood Markets by 9.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after acquiring an additional 2,486,986 shares during the last quarter. Finally, Norges Bank purchased a new position in Robinhood Markets in the 4th quarter worth approximately $84,165,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, February 5th. The shares were sold at an average price of $10.61, for a total transaction of $2,652,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, February 12th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now owns 916,267 shares of the company’s stock, valued at $10,995,204. The disclosure for this sale can be found here. Insiders sold a total of 2,382,977 shares of company stock worth $36,496,582 over the last three months. Corporate insiders own 20.81% of the company’s stock.

Robinhood Markets Stock Up 5.8 %

NASDAQ:HOOD traded up $0.96 during mid-day trading on Thursday, hitting $17.61. 7,483,011 shares of the stock traded hands, compared to its average volume of 14,008,405. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of -29.35 and a beta of 1.74. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $20.55. The firm’s 50 day moving average is $17.56 and its two-hundred day moving average is $13.10.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $471.00 million for the quarter, compared to the consensus estimate of $454.73 million. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS. As a group, research analysts predict that Robinhood Markets, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on HOOD. Piper Sandler boosted their price objective on shares of Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, March 19th. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a report on Wednesday, February 28th. Citigroup lowered shares of Robinhood Markets from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. Finally, Mizuho boosted their price objective on shares of Robinhood Markets from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.88.

About Robinhood Markets

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.