Legal & General Group Plc Sells 79,888 Shares of Robinhood Markets, Inc. $HOOD

Legal & General Group Plc lessened its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,914,426 shares of the company’s stock after selling 79,888 shares during the period. Legal & General Group Plc’s holdings in Robinhood Markets were worth $442,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HOOD. Caisse Des Depots ET Consignations acquired a new position in Robinhood Markets in the third quarter valued at about $3,984,000. Aberdeen Group plc grew its stake in Robinhood Markets by 565.1% in the third quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock valued at $26,565,000 after acquiring an additional 157,643 shares during the period. NEOS Investment Management LLC acquired a new position in Robinhood Markets in the third quarter valued at about $11,994,000. New York Life Investment Management LLC acquired a new position in Robinhood Markets in the third quarter valued at about $14,989,000. Finally, Truist Financial Corp grew its stake in Robinhood Markets by 88.9% in the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after acquiring an additional 68,458 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 67,422 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $69.85, for a total value of $407,574.75. Following the transaction, the chief technology officer directly owned 18,006 shares of the company’s stock, valued at $1,257,719.10. This represents a 24.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 560,765 shares of company stock valued at $40,946,840 over the last ninety days. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Price Performance

HOOD stock opened at $73.64 on Tuesday. The stock has a market capitalization of $66.31 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.39 and a beta of 2.29. The business has a 50-day moving average of $76.06 and a 200-day moving average of $95.67. Robinhood Markets, Inc. has a fifty-two week low of $62.63 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share. Equities analysts expect that Robinhood Markets, Inc. will post 1.95 EPS for the current year.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research analyst reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $130.00 target price on shares of Robinhood Markets in a research note on Tuesday, April 14th. Truist Financial decreased their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 13th. KeyCorp decreased their target price on Robinhood Markets from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Jefferies Financial Group decreased their target price on Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Finally, Piper Sandler decreased their target price on Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.88.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.