Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 30.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 243,076 shares of the company’s stock after selling 108,560 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Robinhood Markets were worth $9,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at $26,000. True Wealth Design LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at about $30,000. Creative Financial Designs Inc. ADV boosted its position in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock valued at $32,000 after purchasing an additional 750 shares in the last quarter. Silicon Valley Capital Partners bought a new position in shares of Robinhood Markets during the 4th quarter valued at about $37,000. Finally, Bogart Wealth LLC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $37,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Compass Point initiated coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price target on the stock. Citigroup raised their price objective on Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Cantor Fitzgerald assumed coverage on Robinhood Markets in a report on Thursday, March 6th. They set an “overweight” rating and a $69.00 target price for the company. Needham & Company LLC decreased their price target on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday. Finally, Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $60.82.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $40.37, for a total value of $9,230,398.65. Following the completion of the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $203,545.54. The trade was a 97.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,955,655 shares of company stock valued at $143,072,448. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Down 4.7 %

HOOD stock opened at $41.92 on Friday. The company has a 50 day moving average of $49.16 and a two-hundred day moving average of $38.19. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The company has a market cap of $37.12 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.05 and a beta of 2.14.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (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 anticipate that Robinhood Markets, Inc. will post 1.35 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.