Sumitomo Mitsui Trust Holdings Inc. Sells 3,078,232 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,127,461 shares of the company’s stock after selling 3,078,232 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 2.99% of Robinhood Markets worth $525,946,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HOOD. FMR LLC lifted its stake in Robinhood Markets by 105.0% during the third quarter. FMR LLC now owns 1,616,446 shares of the company’s stock worth $15,857,000 after purchasing an additional 827,763 shares during the last quarter. Mariner LLC boosted its stake in Robinhood Markets by 133.9% in the third quarter. Mariner LLC now owns 112,876 shares of the company’s stock valued at $1,107,000 after buying an additional 64,624 shares in the last quarter. Northern Trust Corp grew its position in Robinhood Markets by 37.5% in the third quarter. Northern Trust Corp now owns 3,099,424 shares of the company’s stock valued at $30,405,000 after acquiring an additional 845,178 shares during the last quarter. Algert Global LLC acquired a new position in Robinhood Markets during the third quarter worth about $345,000. Finally, Trexquant Investment LP bought a new position in shares of Robinhood Markets in the third quarter worth about $1,054,000. Institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $16.72, for a total transaction of $83,600.00. Following the transaction, the chief financial officer now directly owns 997,407 shares in the company, valued at approximately $16,676,645.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $16.72, for a total value of $83,600.00. Following the completion of the sale, the chief financial officer now owns 997,407 shares in the company, valued at approximately $16,676,645.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,481,733 shares of company stock valued at $28,520,141 over the last ninety days. 19.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HOOD. Bank of America raised shares of Robinhood Markets from an “underperform” rating to a “buy” rating and lifted their price target for the company from $14.00 to $24.00 in a report on Friday, May 17th. Mizuho upped their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $19.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, June 20th. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 target price for the company. Finally, Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.77.

Robinhood Markets Trading Up 0.9 %

NASDAQ HOOD traded up $0.20 during mid-day trading on Wednesday, hitting $22.66. The company’s stock had a trading volume of 1,380,161 shares, compared to its average volume of 16,154,289. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 149.73 and a beta of 1.84. The company’s 50 day simple moving average is $20.28 and its 200 day simple moving average is $16.64. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.05 by $0.13. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The company had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. During the same period in the previous year, the firm posted ($0.57) earnings per share. The firm’s revenue for the quarter was up 40.1% on a year-over-year basis. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.56 EPS for the current year.

Robinhood Markets Company 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.