Robinhood Markets, Inc. $HOOD Stock Position Decreased by BIT Capital GmbH

BIT Capital GmbH cut its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 32.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 707,491 shares of the company’s stock after selling 340,284 shares during the period. Robinhood Markets accounts for 3.4% of BIT Capital GmbH’s holdings, making the stock its 9th largest position. BIT Capital GmbH’s holdings in Robinhood Markets were worth $101,299,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Robinhood Markets by 24.9% during the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock worth $13,521,497,000 after purchasing an additional 18,824,923 shares during the last quarter. Norges Bank purchased a new stake in Robinhood Markets during the 2nd quarter valued at about $973,122,000. Paradigm Operations LP acquired a new stake in Robinhood Markets in the 2nd quarter valued at about $308,979,000. Jennison Associates LLC purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $322,823,000. Finally, Invesco Ltd. boosted its holdings in shares of Robinhood Markets by 81.0% during the 2nd quarter. Invesco Ltd. now owns 4,942,533 shares of the company’s stock worth $462,769,000 after purchasing an additional 2,212,487 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HOOD shares. Citizens Jmp reissued a “market outperform” rating and set a $180.00 price target on shares of Robinhood Markets in a research report on Wednesday, February 11th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $146.00 to $147.00 and gave the company an “equal weight” rating in a report on Monday, December 22nd. Piper Sandler dropped their price target on shares of Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Robinhood Markets in a research report on Wednesday, February 11th. Finally, Argus began coverage on Robinhood Markets in a research report on Friday, January 9th. They issued a “buy” rating and a $145.00 price objective for the company. Seventeen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.71.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $132.26, for a total value of $775,704.90. Following the completion of the transaction, the chief technology officer owned 26,725 shares in the company, valued at approximately $3,534,648.50. The trade was a 18.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the sale, the insider owned 430,012 shares in the company, valued at approximately $56,817,485.56. This trade represents a 21.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 706,413 shares of company stock valued at $85,161,009. 14.47% of the stock is owned by insiders.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $75.65 on Friday. The company has a market capitalization of $68.02 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 1.27 and a beta of 2.43. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The firm has a 50 day moving average price of $104.32 and a 200 day moving average price of $117.37.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Robinhood Markets 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.