Amundi Reduces Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Amundi trimmed its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,325,357 shares of the company’s stock after selling 318,077 shares during the period. Amundi’s holdings in Robinhood Markets were worth $176,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Azora Capital LP acquired a new stake in Robinhood Markets in the 3rd quarter valued at about $79,780,000. FMR LLC grew its position in shares of Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock valued at $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $90,869,000. Assenagon Asset Management S.A. lifted its position in Robinhood Markets by 486.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,788,666 shares of the company’s stock worth $103,906,000 after buying an additional 2,313,213 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in Robinhood Markets during the fourth quarter worth $71,318,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total transaction of $7,111,778.82. Following the sale, the director now owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. This trade represents a 98.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the transaction, the chief technology officer now owns 17,559 shares of the company’s stock, valued at approximately $821,936.79. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,171,641 shares of company stock valued at $149,567,157 in the last ninety days. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Down 0.9 %

Shares of Robinhood Markets stock opened at $44.42 on Monday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $66.91. The company has a market capitalization of $39.33 billion, a P/E ratio of 28.29, a P/E/G ratio of 1.05 and a beta of 2.14. The company has a 50 day moving average of $49.03 and a 200 day moving average of $36.03.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Mizuho boosted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC upped their price objective on Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.13.

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.