Prana Capital Management LP Sells 329,068 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Prana Capital Management LP lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 59.0% in the 4th quarter, Holdings Channel reports. The firm owned 228,799 shares of the company’s stock after selling 329,068 shares during the period. Prana Capital Management LP’s holdings in Robinhood Markets were worth $8,525,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HOOD. FMR LLC increased its stake in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $329,598,000. GQG Partners LLC acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after buying an additional 3,994,745 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 target price on shares of Robinhood Markets in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. Wolfe Research lowered shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Citigroup lowered their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Compass Point started coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.41.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 94,156 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $55.34, for a total value of $5,210,593.04. Following the transaction, the director now owns 7,863 shares in the company, valued at approximately $435,138.42. The trade was a 92.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now owns 5,853 shares in the company, valued at $201,987.03. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,840,014 shares of company stock worth $83,494,057 in the last ninety days. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Trading Down 1.9%

Shares of Robinhood Markets stock opened at $61.39 on Thursday. The firm’s 50 day moving average is $44.26 and its 200 day moving average is $43.08. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $66.91. The firm has a market capitalization of $54.36 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The business had revenue of $927.00 million for the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was up 50.0% on a year-over-year basis. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share 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.