Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 13.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,125 shares of the company’s stock after selling 6,434 shares during the period. Principal Financial Group Inc.’s holdings in Robinhood Markets were worth $1,010,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HOOD. UniSuper Management Pty Ltd lifted its holdings in Robinhood Markets by 87.1% in the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after acquiring an additional 2,700 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Robinhood Markets by 146.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock worth $27,196,000 after purchasing an additional 690,467 shares during the last quarter. O Neil Global Advisors Inc. acquired a new position in Robinhood Markets during the 2nd quarter valued at approximately $2,298,000. LifePro Asset Management bought a new position in Robinhood Markets during the 3rd quarter worth $1,677,000. Finally, AXA S.A. acquired a new stake in Robinhood Markets in the second quarter worth $3,886,000. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now directly owns 29,357,336 shares of the company’s stock, valued at $735,988,413.52. This represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,710,549 shares of company stock valued at $115,477,194 in the last three months. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Trading Up 4.4 %

Shares of Robinhood Markets stock opened at $36.65 on Friday. Robinhood Markets, Inc. has a 52 week low of $8.13 and a 52 week high of $38.11. The company’s 50-day moving average price is $26.96 and its two-hundred day moving average price is $22.96. The stock has a market cap of $32.40 billion, a PE ratio of 62.12, a price-to-earnings-growth ratio of 0.82 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, equities analysts predict that Robinhood Markets, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HOOD. Barclays boosted their price target on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Citigroup boosted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, KeyCorp raised their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.66.

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.