Hsbc Holdings PLC Sells 50,111 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Hsbc Holdings PLC lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,105 shares of the company's stock after selling 50,111 shares during the period. Hsbc Holdings PLC's holdings in Robinhood Markets were worth $8,508,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. MetLife Investment Management LLC raised its position in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after acquiring an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company's stock valued at $368,000 after purchasing an additional 233 shares during the period. First Horizon Advisors Inc. raised its holdings in Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company's stock worth $142,000 after purchasing an additional 277 shares during the last quarter. Spire Wealth Management lifted its position in shares of Robinhood Markets by 104.6% in the 4th quarter. Spire Wealth Management now owns 1,074 shares of the company's stock worth $40,000 after purchasing an additional 549 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Robinhood Markets by 130.7% in the 4th quarter. Allworth Financial LP now owns 1,135 shares of the company's stock valued at $42,000 after purchasing an additional 643 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the completion of the sale, the chief technology officer now directly owns 17,559 shares of the company's stock, valued at approximately $821,936.79. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the completion of the transaction, the insider now directly owns 706,642 shares in the company, valued at approximately $36,462,727.20. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,240,437 shares of company stock worth $110,044,137. 19.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HOOD. KeyCorp dropped their target price on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Compass Point started coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target on the stock. Barclays reduced their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Finally, Morgan Stanley downgraded shares of Robinhood Markets from an "overweight" rating to an "equal weight" rating and set a $40.00 target price on the stock. in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $53.88.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded up $0.44 during mid-day trading on Tuesday, hitting $49.37. 28,515,388 shares of the stock were exchanged, compared to its average volume of 24,991,436. The company has a market capitalization of $43.72 billion, a P/E ratio of 31.45, a P/E/G ratio of 1.05 and a beta of 2.17. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The company has a 50-day simple moving average of $43.28 and a 200 day simple moving average of $41.16.

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

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.