Robinhood Markets, Inc. $HOOD Shares Sold by Udine Wealth Management Inc.

Udine Wealth Management Inc. reduced its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 29.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,148 shares of the company’s stock after selling 15,892 shares during the period. Robinhood Markets accounts for approximately 2.6% of Udine Wealth Management Inc.’s holdings, making the stock its 10th biggest position. Udine Wealth Management Inc.’s holdings in Robinhood Markets were worth $5,462,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Valley National Advisers Inc. grew its position in shares of Robinhood Markets by 113.6% in the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. North Star Investment Management Corp. boosted its stake in Robinhood Markets by 44.9% during the 3rd quarter. North Star Investment Management Corp. now owns 255 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares during the period. Hantz Financial Services Inc. grew its holdings in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after buying an additional 148 shares during the last quarter. Smithfield Trust Co bought a new position in Robinhood Markets in the 2nd quarter worth approximately $29,000. Finally, Security National Bank acquired a new position in shares of Robinhood Markets during the third quarter worth approximately $46,000. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research analyst reports. Bank of America lowered their price objective on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Truist Financial initiated coverage on shares of Robinhood Markets in a research report on Wednesday, December 17th. They issued a “buy” rating and a $155.00 price target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Robinhood Markets in a research report on Monday, January 5th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Finally, Barclays lowered their price target on Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $136.62.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction on Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the completion of the sale, the insider owned 54,496 shares in the company, valued at $7,147,150.40. This represents a 47.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,296,763 shares of company stock worth $414,016,996 over the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $119.67 on Thursday. The firm has a market cap of $107.61 billion, a P/E ratio of 49.66, a price-to-earnings-growth ratio of 1.82 and a beta of 2.44. The firm’s 50-day simple moving average is $121.94 and its 200-day simple moving average is $119.03. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.