IFM Investors Pty Ltd Sells 1,382 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

IFM Investors Pty Ltd reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,240 shares of the company’s stock after selling 1,382 shares during the period. IFM Investors Pty Ltd’s holdings in Robinhood Markets were worth $1,917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Robinhood Markets by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock worth $561,732,000 after buying an additional 2,459,702 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of Robinhood Markets by 6.4% in the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock worth $445,087,000 after buying an additional 2,101,325 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Robinhood Markets by 9.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after buying an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Robinhood Markets by 9.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after buying an additional 2,486,986 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Robinhood Markets in the 4th quarter worth about $84,165,000. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at Robinhood Markets

In other news, insider Baiju Bhatt sold 188,077 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $13.57, for a total value of $2,552,204.89. Following the completion of the sale, the insider now owns 36,045 shares of the company’s stock, valued at approximately $489,130.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Baiju Bhatt sold 188,077 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $13.57, for a total transaction of $2,552,204.89. Following the completion of the sale, the insider now owns 36,045 shares of the company’s stock, valued at $489,130.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,382,977 shares of company stock valued at $36,496,582. Company insiders own 20.81% of the company’s stock.

Robinhood Markets Trading Up 4.4 %

Shares of HOOD traded up $0.76 during mid-day trading on Friday, hitting $17.88. The company’s stock had a trading volume of 8,203,870 shares, compared to its average volume of 9,817,169. The company’s 50-day moving average is $17.38 and its 200-day moving average is $12.97. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $20.55. The firm has a market capitalization of $15.64 billion, a price-to-earnings ratio of -29.80 and a beta of 1.69.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The firm had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $454.73 million. During the same quarter in the prior year, the company earned ($0.19) EPS. The company’s revenue was up 23.9% compared to the same quarter last year. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Robinhood Markets in a report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price target on the stock. Barclays upped their price target on shares of Robinhood Markets from $11.00 to $16.00 and gave the company an “underweight” rating in a report on Monday, April 8th. Mizuho upped their price target on shares of Robinhood Markets from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. KeyCorp upped their price target on shares of Robinhood Markets from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.88.

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.