Principal Financial Group Inc. Sells 4,102 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Principal Financial Group Inc. lessened its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 7.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 49,559 shares of the company’s stock after selling 4,102 shares during the period. Principal Financial Group Inc.’s holdings in Robinhood Markets were worth $1,125,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in HOOD. Angeles Wealth Management LLC increased its holdings in Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after acquiring an additional 610 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Robinhood Markets by 44.9% in the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after acquiring an additional 710 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. Commerce Bank grew its position in shares of Robinhood Markets by 7.9% during the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after purchasing an additional 917 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in Robinhood Markets by 25.8% during the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock valued at $117,000 after purchasing an additional 1,194 shares during the period. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $21.64 on Friday. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $24.88. The business has a fifty day moving average price of $20.56 and a 200 day moving average price of $19.69. The company has a market cap of $19.02 billion, a P/E ratio of 144.27 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same quarter last year, the business posted $0.03 earnings per share. The firm’s revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Robinhood Markets news, CFO Jason Warnick sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the completion of the transaction, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,325,322 shares of company stock worth $26,225,912. Company insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several recent analyst reports. Barclays upgraded Robinhood Markets from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. The Goldman Sachs Group boosted their price target on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Robinhood Markets in a research note on Thursday, August 8th. Finally, Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Hold” and a consensus price target of $22.83.

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.