Jupiter Asset Management Ltd. Has $31.84 Million Position in Robinhood Markets, Inc. $HOOD

Jupiter Asset Management Ltd. cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 30.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,369 shares of the company’s stock after selling 96,297 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Robinhood Markets were worth $31,839,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HOOD. Vanguard Group Inc. raised its holdings in shares of Robinhood Markets by 24.9% during the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after purchasing an additional 18,824,923 shares in the last quarter. State Street Corp raised its holdings in Robinhood Markets by 9.2% during the second quarter. State Street Corp now owns 15,870,421 shares of the company’s stock valued at $1,485,948,000 after buying an additional 1,341,204 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after buying an additional 507,926 shares during the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets during the 2nd quarter worth about $973,122,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Robinhood Markets by 3.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,019,451 shares of the company’s stock valued at $469,971,000 after acquiring an additional 168,099 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Up 0.6%

NASDAQ HOOD opened at $75.65 on Friday. The stock has a market cap of $68.02 billion, a P/E ratio of 36.72, a PEG ratio of 1.27 and a beta of 2.43. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company’s 50-day simple moving average is $104.32 and its 200 day simple moving average is $117.37.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was up 26.5% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $107.48, for a total value of $630,262.72. Following the transaction, the chief technology officer directly owned 9,133 shares in the company, valued at $981,614.84. The trade was a 39.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shiv Verma sold 5,474 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $75.13, for a total transaction of $411,261.62. Following the sale, the chief financial officer directly owned 51,771 shares of the company’s stock, valued at approximately $3,889,555.23. The trade was a 9.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 706,413 shares of company stock worth $85,161,009 in the last three months. Company insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of several analyst reports. Needham & Company LLC lowered their price target on Robinhood Markets from $135.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Barclays dropped their target price on shares of Robinhood Markets from $159.00 to $124.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Truist Financial dropped their price objective on Robinhood Markets from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Piper Sandler decreased their target price on Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Finally, Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Seventeen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $121.71.

Robinhood Markets Company Profile

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.