Blue Trust Inc. Sells 2,412 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Blue Trust Inc. lowered its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,526 shares of the company’s stock after selling 2,412 shares during the quarter. Blue Trust Inc.’s holdings in Robinhood Markets were worth $765,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. HM Payson & Co. lifted its stake in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank bought a new position in shares of Robinhood Markets in the 3rd quarter valued at $30,000. True Wealth Design LLC acquired a new stake in shares of Robinhood Markets during the 3rd quarter valued at $30,000. ORG Wealth Partners LLC bought a new stake in Robinhood Markets during the 3rd quarter worth $33,000. Finally, Connective Portfolio Management LLC acquired a new position in Robinhood Markets in the 3rd quarter worth about $47,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 3.5 %

NASDAQ:HOOD opened at $51.15 on Thursday. Robinhood Markets, Inc. has a 12 month low of $10.51 and a 12 month high of $52.06. The stock has a market capitalization of $45.22 billion, a price-to-earnings ratio of 86.70, a PEG ratio of 0.67 and a beta of 2.07. The firm has a fifty day simple moving average of $41.22 and a two-hundred day simple moving average of $29.74.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analyst estimates of $660.53 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 36.4% on a year-over-year basis. Equities analysts predict that Robinhood Markets, Inc. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the sale, the chief technology officer now owns 11,752 shares in the company, valued at $445,635.84. This represents a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,297,400 shares of company stock valued at $170,630,852. Company insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler lifted their price target on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Robinhood Markets from an “underweight” rating to a “neutral” rating and raised their price target for the company from $20.00 to $43.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Sanford C. Bernstein raised their target price on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.07.

About Robinhood Markets

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.