Harvest Fund Management Co. Ltd Sells 16,476 Shares of Robinhood Markets, Inc. $HOOD

Harvest Fund Management Co. Ltd lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 84.7% during the 4th quarter, Holdings Channel reports. The firm owned 2,983 shares of the company’s stock after selling 16,476 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Robinhood Markets were worth $337,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Caisse Des Depots ET Consignations bought a new position in shares of Robinhood Markets in the 3rd quarter valued at about $3,984,000. Aberdeen Group plc boosted its stake in shares of Robinhood Markets by 565.1% in the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock valued at $26,565,000 after purchasing an additional 157,643 shares during the last quarter. NEOS Investment Management LLC bought a new position in shares of Robinhood Markets in the 3rd quarter valued at about $11,994,000. Truist Financial Corp boosted its stake in shares of Robinhood Markets by 88.9% in the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after purchasing an additional 68,458 shares during the last quarter. Finally, New York Life Investment Management LLC bought a new position in shares of Robinhood Markets in the 3rd quarter valued at about $14,989,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $82.47 on Friday. The company has a market capitalization of $74.27 billion, a P/E ratio of 39.84, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. The company’s 50 day moving average price is $78.09 and its two-hundred day moving average price is $93.03. Robinhood Markets, Inc. has a 52 week low of $63.51 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company 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 business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. Analysts forecast that Robinhood Markets, Inc. will post 1.85 earnings per share for the current year.

Analyst Ratings Changes

HOOD has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. KeyCorp reissued an “overweight” rating and set a $100.00 price objective on shares of Robinhood Markets in a research note on Monday, June 1st. JPMorgan Chase & Co. reduced their price objective on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein reissued an “outperform” rating and set a $130.00 price objective on shares of Robinhood Markets in a research note on Tuesday, April 14th. Finally, New Street Research set a $122.00 price objective on shares of Robinhood Markets in a research note on Thursday, March 5th. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.54.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $83.68, for a total transaction of $836,800.00. Following the sale, the insider directly owned 481,396 shares in the company, valued at approximately $40,283,217.28. This trade represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 571,602 shares of company stock worth $41,959,746. Corporate insiders own 14.47% of the company’s stock.

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.