BI Asset Management Fondsmaeglerselskab A S Increases Position in Robinhood Markets, Inc. $HOOD

BI Asset Management Fondsmaeglerselskab A S raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 173,699 shares of the company’s stock after buying an additional 8,293 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Robinhood Markets were worth $19,645,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HOOD. Sound Income Strategies LLC increased its position in shares of Robinhood Markets by 152.6% in the 4th quarter. Sound Income Strategies LLC now owns 240 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in shares of Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $27,000. Godsey & Gibb Inc. purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $28,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Robinhood Markets by 90.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 268 shares of the company’s stock valued at $28,000 after purchasing an additional 127 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HOOD. Argus dropped their price objective on shares of Robinhood Markets from $102.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Wall Street Zen downgraded shares of Robinhood Markets from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Loop Capital set a $94.00 target price on shares of Robinhood Markets in a report on Wednesday, May 27th. Finally, Jefferies Financial Group lowered their target price on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating for the company in a report on Monday, April 6th. Nineteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.54.

More Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Director Meyer Malka bought 181,000 shares for about $15.1 million, a notable insider purchase that signals confidence in Robinhood’s outlook and helped support sentiment around the stock.
• Positive Sentiment: Robinhood is getting a fresh growth narrative from its plan to open SpaceX IPO access to everyday investors, which could attract new users, deposits, and more engagement on the platform. Article Title
• Positive Sentiment: FINRA’s elimination of the pattern day trader rule removes a major barrier for small-account traders, which could broaden Robinhood’s addressable market and increase trading activity. Article Title
• Positive Sentiment: Goldman Sachs raised its price target on HOOD to $105 and kept a buy rating, reinforcing a constructive view on the stock despite recent volatility.
• Positive Sentiment: Robinhood continues expanding beyond basic brokerage with advisor-network, AI, and wealth-management initiatives, which investors may see as a path to higher-quality recurring revenue. Article Title

Robinhood Markets Trading Down 6.6%

Shares of Robinhood Markets stock opened at $82.47 on Friday. The company has a fifty day simple moving average of $78.09 and a 200-day simple moving average of $93.03. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86. The stock has a market cap of $74.27 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 2.47 and a beta of 2.35.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.37 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts forecast that Robinhood Markets, Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Shiv Verma sold 5,436 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $77.36, for a total transaction of $420,528.96. Following the completion of the sale, the chief financial officer owned 47,311 shares in the company, valued at $3,659,978.96. This represents a 10.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 10,837 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $85.91, for a total transaction of $931,006.67. Following the sale, the insider owned 81,989 shares of the company’s stock, valued at approximately $7,043,674.99. This represents a 11.67% decrease in their position. 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 have sold 571,602 shares of company stock worth $41,959,746 over the last 90 days. 14.47% of the stock is owned by corporate insiders.

About Robinhood Markets

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.