Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Holdings Lessened by Verus Capital Partners LLC

Verus Capital Partners LLC cut its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,406 shares of the company’s stock after selling 932 shares during the quarter. Verus Capital Partners LLC’s holdings in Robinhood Markets were worth $425,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HOOD. QRG Capital Management Inc. boosted its position in shares of Robinhood Markets by 23.4% in the 4th quarter. QRG Capital Management Inc. now owns 99,678 shares of the company’s stock valued at $3,714,000 after purchasing an additional 18,894 shares during the period. Proficio Capital Partners LLC acquired a new stake in Robinhood Markets during the 4th quarter worth about $2,367,000. Oppenheimer & Co. Inc. purchased a new stake in Robinhood Markets during the fourth quarter valued at about $973,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Robinhood Markets in the fourth quarter worth about $273,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Robinhood Markets by 5.2% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 168,400 shares of the company’s stock worth $6,275,000 after acquiring an additional 8,300 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on HOOD. Piper Sandler upped their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and increased their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Barclays lifted their price target on Robinhood Markets from $54.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC raised their price objective on Robinhood Markets from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $59.53.

Robinhood Markets Stock Up 2.7 %

NASDAQ HOOD opened at $50.10 on Friday. The company has a 50 day moving average price of $48.34 and a two-hundred day moving average price of $34.88. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $66.91. The stock has a market capitalization of $44.29 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.05 and a beta of 2.13.

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, beating 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, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 186,514 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $38.13, for a total value of $7,111,778.82. Following the transaction, the director now directly owns 2,521 shares of the company’s stock, valued at approximately $96,125.73. This trade represents a 98.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meyer Malka sold 1,535,681 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total value of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,643,879 shares of company stock valued at $207,663,007 over the last quarter. Insiders own 19.95% of the company’s stock.

Robinhood Markets 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.