Avanza Fonder AB Has $2.23 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Avanza Fonder AB lowered its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 25.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,132 shares of the company’s stock after selling 17,819 shares during the quarter. Avanza Fonder AB’s holdings in Robinhood Markets were worth $2,225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its position in shares of Robinhood Markets by 601.1% during the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after buying an additional 3,769 shares during the period. Charles Schwab Investment Management Inc. grew its position in Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock valued at $175,857,000 after purchasing an additional 138,267 shares in the last quarter. Aigen Investment Management LP grew its holdings in shares of Robinhood Markets by 161.2% in the 4th quarter. Aigen Investment Management LP now owns 85,868 shares of the company’s stock valued at $3,199,000 after acquiring an additional 52,988 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Robinhood Markets by 19.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,557,301 shares of the company’s stock valued at $179,463,000 after buying an additional 739,631 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $207,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 3.3%

Shares of NASDAQ HOOD opened at $74.88 on Thursday. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $77.80. The firm has a fifty day simple moving average of $54.68 and a 200 day simple moving average of $48.16. The company has a market capitalization of $66.30 billion, a PE ratio of 47.69, a P/E/G ratio of 1.05 and a beta of 2.25.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on HOOD. JMP Securities reaffirmed a “market outperform” rating and set a $70.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 1st. Redburn Atlantic reiterated a “sell” rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Piper Sandler upped their price objective on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $71.00 price objective on shares of Robinhood Markets in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.17.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $43.36, for a total value of $253,786.08. Following the sale, the chief technology officer now owns 11,706 shares of the company’s stock, valued at approximately $507,572.16. This represents a 33.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,232,636 shares of company stock valued at $111,898,793. Corporate insiders own 14.47% of the company’s stock.

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.