SRN Advisors LLC Reduces Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

SRN Advisors LLC decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 65.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,722 shares of the company’s stock after selling 64,000 shares during the quarter. SRN Advisors LLC’s holdings in Robinhood Markets were worth $1,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Robinhood Markets by 31.3% during the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares during the last quarter. State Street Corp increased its position in shares of Robinhood Markets by 8.7% during the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock valued at $317,536,000 after acquiring an additional 1,085,679 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Robinhood Markets by 19.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Robinhood Markets by 33.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock worth $107,298,000 after acquiring an additional 1,137,677 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Robinhood Markets by 19.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock worth $179,463,000 after purchasing an additional 739,631 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $48.85 on Thursday. The stock has a market cap of $43.18 billion, a PE ratio of 31.11, a P/E/G ratio of 1.05 and a beta of 2.13. The stock’s fifty day moving average is $47.87 and its two-hundred day moving average is $34.56. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HOOD. Morgan Stanley lifted their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. JMP Securities raised their target price on Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Raymond James began coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating for the company. Finally, Mizuho increased their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.53.

Insiders Place Their Bets

In other Robinhood Markets news, Director Meyer Malka sold 1,535,681 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the transaction, the director now owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.22, for a total value of $477,750.00. Following the sale, the insider now owns 1,106,955 shares in the company, valued at $42,307,820.10. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,643,879 shares of company stock valued at $207,663,007. 19.95% of the stock is owned by corporate insiders.

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.