Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,982,275 shares of the company's stock after selling 827,048 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 2.60% of Robinhood Markets worth $538,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HM Payson & Co. boosted its holdings in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company's stock valued at $28,000 after acquiring an additional 410 shares during the period. Signaturefd LLC grew its stake in shares of Robinhood Markets by 16.5% in the 3rd quarter. Signaturefd LLC now owns 3,437 shares of the company's stock worth $80,000 after buying an additional 487 shares during the last quarter. Castleview Partners LLC grew its stake in shares of Robinhood Markets by 18.2% in the 3rd quarter. Castleview Partners LLC now owns 3,788 shares of the company's stock worth $89,000 after buying an additional 582 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in Robinhood Markets by 3.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 19,773 shares of the company's stock valued at $463,000 after purchasing an additional 598 shares during the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in Robinhood Markets by 5.3% during the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company's stock valued at $246,000 after purchasing an additional 610 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Vladimir Tenev sold 250,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jason Warnick sold 25,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,854,493 shares of company stock valued at $118,173,265. Company insiders own 19.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HOOD shares. JMP Securities raised their price target on Robinhood Markets from $33.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Tuesday. KeyCorp boosted their price objective on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Piper Sandler increased their price target on Robinhood Markets from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Robinhood Markets in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.10.

Robinhood Markets Stock Down 0.1 %

NASDAQ:HOOD traded down $0.03 during trading hours on Tuesday, reaching $32.77. The company had a trading volume of 20,030,692 shares, compared to its average volume of 15,930,850. The stock has a 50-day moving average of $24.42 and a two-hundred day moving average of $21.94. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $34.32. The firm has a market capitalization of $28.97 billion, a PE ratio of 55.59, a PEG ratio of 0.73 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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 for the quarter, compared to analyst estimates of $660.53 million. During the same period last year, the firm earned ($0.09) EPS. The firm's revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.71 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.