Robinhood Markets, Inc. $HOOD Shares Sold by Main Street Research LLC

Main Street Research LLC reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 532,399 shares of the company’s stock after selling 6,906 shares during the quarter. Robinhood Markets makes up 3.4% of Main Street Research LLC’s investment portfolio, making the stock its 12th biggest holding. Main Street Research LLC owned about 0.06% of Robinhood Markets worth $60,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Caisse Des Depots ET Consignations acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth about $3,984,000. Aberdeen Group plc raised its position in shares of Robinhood Markets by 565.1% during the 3rd 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 in the last quarter. NEOS Investment Management LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth about $11,994,000. New York Life Investment Management LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter worth about $14,989,000. Finally, Truist Financial Corp raised its position in shares of Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock worth $16,455,000 after acquiring an additional 68,458 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on HOOD. Needham & Company LLC dropped their target price on shares of Robinhood Markets from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research report on Wednesday, February 11th. Morgan Stanley dropped their target price on shares of Robinhood Markets from $147.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Truist Financial dropped their price objective on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Wall Street Zen lowered Robinhood Markets from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.88.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $73.64 on Monday. The stock has a market cap of $66.31 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.39 and a beta of 2.29. The firm has a fifty day moving average price of $76.11 and a 200 day moving average price of $96.12. Robinhood Markets, Inc. has a 1-year low of $62.63 and a 1-year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.95 EPS for the current fiscal year.

Insider Activity

In related news, insider Steven M. Quirk sold 8,540 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $84.93, for a total transaction of $725,302.20. Following the completion of the sale, the insider owned 53,183 shares in the company, valued at $4,516,832.19. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the sale, the insider owned 432,849 shares of the company’s stock, valued at approximately $33,281,759.61. This represents a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 560,765 shares of company stock worth $40,946,840 over the last 90 days. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets 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.