Shikiar Asset Management Inc. Sells 9,600 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Shikiar Asset Management Inc. lessened its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,959 shares of the company's stock after selling 9,600 shares during the quarter. Shikiar Asset Management Inc.'s holdings in Robinhood Markets were worth $1,340,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. HM Payson & Co. raised its holdings in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after purchasing an additional 410 shares during the period. True Wealth Design LLC bought a new stake in Robinhood Markets during the 3rd quarter valued at $30,000. Eastern Bank bought a new stake in Robinhood Markets during the 3rd quarter valued at $30,000. ORG Wealth Partners LLC bought a new stake in Robinhood Markets during the 3rd quarter valued at $33,000. Finally, Connective Portfolio Management LLC bought a new stake in Robinhood Markets during the 3rd quarter valued at $47,000. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HOOD shares. JMP Securities boosted their target price on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a "market outperform" rating in a report on Tuesday, November 12th. Sanford C. Bernstein boosted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. The Goldman Sachs Group raised shares of Robinhood Markets from a "neutral" rating to a "buy" rating and boosted their target price for the company from $40.00 to $46.00 in a report on Friday, December 6th. Barclays upped their price target on shares of Robinhood Markets from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $52.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $43.07.

Robinhood Markets Stock Up 4.5 %

NASDAQ:HOOD traded up $2.07 during midday trading on Friday, hitting $48.15. The company had a trading volume of 35,128,062 shares, compared to its average volume of 17,235,492. Robinhood Markets, Inc. has a 52-week low of $10.38 and a 52-week high of $49.27. The stock's fifty day moving average price is $38.63 and its 200-day moving average price is $28.18. The company has a market capitalization of $42.56 billion, a PE ratio of 81.61, a P/E/G ratio of 0.58 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results 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). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. During the same quarter last year, the firm posted ($0.09) earnings per share. The firm's revenue was up 36.4% on a year-over-year basis. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.21, for a total transaction of $6,052,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 108,964 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.92, for a total transaction of $2,715,382.88. Following the sale, the director now owns 2,521 shares of the company's stock, valued at approximately $62,823.32. The trade was a 97.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,700,658 shares of company stock worth $140,360,682 over the last three months. Company insiders own 19.95% of the company's stock.

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.