Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Holdings in Robinhood Markets, Inc. $HOOD

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 161,400 shares of the company’s stock after purchasing an additional 31,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Robinhood Markets were worth $15,112,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. True Vision MN LLC boosted its stake in Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock valued at $642,000 after purchasing an additional 116 shares during the last quarter. Forum Financial Management LP boosted its position in shares of Robinhood Markets by 0.8% during the second quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after buying an additional 134 shares during the last quarter. Hemington Wealth Management boosted its position in shares of Robinhood Markets by 22.5% during the second quarter. Hemington Wealth Management now owns 779 shares of the company’s stock valued at $72,000 after buying an additional 143 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Robinhood Markets by 2.3% during the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after buying an additional 148 shares during the last quarter. Finally, REAP Financial Group LLC boosted its holdings in shares of Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock valued at $49,000 after acquiring an additional 160 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the transaction, the insider owned 94,454 shares in the company, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 5,175,598 shares of company stock worth $579,779,430. 19.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HOOD shares. Bank of America raised their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Citizens Jmp raised their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a report on Thursday, October 9th. Needham & Company LLC raised their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. JMP Securities raised their price target on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Finally, Citigroup raised their price target on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.85.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $146.25 on Wednesday. The company’s fifty day simple moving average is $124.80 and its 200-day simple moving average is $94.51. The stock has a market capitalization of $129.97 billion, a PE ratio of 74.24, a P/E/G ratio of 3.79 and a beta of 2.42. Robinhood Markets, Inc. has a 1-year low of $23.00 and a 1-year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.Robinhood Markets’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. As a group, 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.