Principal Financial Group Inc. Sells 6,434 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Principal Financial Group Inc. reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Robinhood Markets by 31.3% in the 3rd quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after purchasing an additional 3,368,118 shares in the last quarter. State Street Corp increased its position in Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after buying an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after buying an additional 1,895,427 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after buying an additional 2,094,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Robinhood Markets by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,581,465 shares of the company’s stock valued at $107,298,000 after acquiring an additional 1,137,677 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $46.00 in a report on Friday, December 6th. Barclays upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $26.00 to $49.00 in a research report on Monday, December 9th. Finally, Piper Sandler lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.20.

Robinhood Markets Trading Up 4.8 %

Shares of NASDAQ HOOD opened at $41.35 on Friday. Robinhood Markets, Inc. has a 12-month low of $10.38 and a 12-month high of $43.83. The firm’s 50-day moving average price is $35.52 and its 200-day moving average price is $26.79. The stock has a market capitalization of $36.55 billion, a price-to-earnings ratio of 70.09, a P/E/G ratio of 0.81 and a beta of 2.09.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, equities analysts predict that Robinhood Markets, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 98,404 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the transaction, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. This represents a 97.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,807,772 shares of company stock worth $211,393,158 over the last three months. 19.95% of the stock is owned by 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.