Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 23.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,521,429 shares of the company’s stock after selling 5,460,846 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Robinhood Markets were worth $652,848,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HM Payson & Co. boosted its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares in the last quarter. Commerce Bank boosted its stake in Robinhood Markets by 3.3% during the 3rd quarter. Commerce Bank now owns 13,245 shares of the company’s stock valued at $310,000 after purchasing an additional 423 shares in the last quarter. Signaturefd LLC boosted its stake in Robinhood Markets by 16.5% during the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company’s stock valued at $80,000 after purchasing an additional 487 shares in the last quarter. Spire Wealth Management increased its position in shares of Robinhood Markets by 104.6% during the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after purchasing an additional 549 shares during the period. Finally, Castleview Partners LLC raised its stake in shares of Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company’s stock worth $89,000 after buying an additional 582 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $53.17 on Friday. The stock has a market cap of $47.00 billion, a PE ratio of 90.12, a price-to-earnings-growth ratio of 0.70 and a beta of 2.13. Robinhood Markets, Inc. has a fifty-two week low of $10.64 and a fifty-two week high of $54.88. The stock’s 50-day moving average is $43.13 and its two-hundred day moving average is $30.91.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HOOD shares. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Citigroup lifted their price objective on shares of Robinhood Markets from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Barclays increased their target price on shares of Robinhood Markets from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded Robinhood Markets from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $43.00 in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.73.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the business’s stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now owns 395,166 shares in the company, valued at $14,834,531.64. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,857,561 shares of company stock worth $159,976,719. 19.95% of the stock is owned by company insiders.

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.