OVERSEA CHINESE BANKING Corp Ltd Trims Holdings in Robinhood Markets, Inc. $HOOD

by · The Markets Daily

OVERSEA CHINESE BANKING Corp Ltd reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 50.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,266 shares of the company’s stock after selling 4,290 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Robinhood Markets were worth $399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HOOD. Hemington Wealth Management boosted its position in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the 1st quarter worth approximately $33,000. V Square Quantitative Management LLC bought a new position in shares of Robinhood Markets in the second quarter valued at $36,000. Finally, Colonial Trust Advisors boosted its position in shares of Robinhood Markets by 125.0% in the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 0.3%

Shares of NASDAQ HOOD opened at $146.25 on Wednesday. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86. The firm’s 50-day simple moving average is $124.80 and its 200 day simple moving average is $94.51. The company has a market cap of $129.97 billion, a price-to-earnings ratio of 74.24, a price-to-earnings-growth ratio of 3.79 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on HOOD. Citizens Jmp raised their target price on Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a research report on Thursday, October 9th. CICC Research began coverage on shares of Robinhood Markets in a research note on Monday. They set an “outperform” rating and a $155.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Mizuho raised their price target on Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Finally, Citigroup boosted their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $122.85.

Get Our Latest Report on Robinhood Markets

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the transaction, the chief technology officer directly owned 11,952 shares of the company’s stock, valued at approximately $1,763,278.56. This trade represents a 32.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The SEC filing for this sale provides additional information. Insiders sold a total of 5,175,598 shares of company stock valued at $579,779,430 over the last 90 days. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Profile

(Free Report)

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.

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