Guggenheim Capital LLC Trims Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Guggenheim Capital LLC trimmed its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,420 shares of the company's stock after selling 9,697 shares during the period. Guggenheim Capital LLC's holdings in Robinhood Markets were worth $1,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. IFP Advisors Inc increased its holdings in shares of Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company's stock worth $164,000 after buying an additional 3,769 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Robinhood Markets in the fourth quarter worth $634,000. Charles Schwab Investment Management Inc. increased its stake in Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company's stock valued at $175,857,000 after acquiring an additional 138,267 shares during the last quarter. Atomi Financial Group Inc. raised its position in Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Finally, Requisite Capital Management LLC bought a new stake in Robinhood Markets during the fourth quarter worth about $266,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Baiju Bhatt sold 223,072 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $41.24, for a total value of $9,199,489.28. Following the transaction, the director now owns 7,863 shares in the company, valued at approximately $324,270.12. This represents a 96.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $47.82, for a total value of $280,990.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,193,327 shares of company stock worth $107,903,039. Corporate insiders own 19.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HOOD shares. Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a report on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a research note on Thursday, March 6th. They issued an "overweight" rating and a $69.00 price objective for the company. Wolfe Research cut shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Finally, KeyCorp cut their price target on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average target price of $53.88.

Robinhood Markets Price Performance

HOOD stock traded up $2.66 during trading on Wednesday, reaching $44.75. The company had a trading volume of 48,790,400 shares, compared to its average volume of 24,545,968. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $66.91. The business has a 50 day moving average of $44.46 and a 200 day moving average of $40.42. The company has a market cap of $39.62 billion, a P/E ratio of 28.50, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.