Robinhood Markets, Inc. $HOOD Shares Sold by AGF Management Ltd.

AGF Management Ltd. reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 59.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,803,032 shares of the company’s stock after selling 2,669,963 shares during the quarter. Robinhood Markets makes up approximately 1.1% of AGF Management Ltd.’s portfolio, making the stock its 20th biggest position. AGF Management Ltd.’s holdings in Robinhood Markets were worth $258,158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HOOD. WCM Investment Management LLC boosted its holdings in Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares in the last quarter. Norges Bank acquired a new stake in Robinhood Markets in the 2nd quarter worth about $973,122,000. Paradigm Operations LP acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at about $308,979,000. Jennison Associates LLC purchased a new stake in Robinhood Markets during the 3rd quarter worth $322,823,000. Finally, Invesco Ltd. lifted its position in shares of Robinhood Markets by 81.0% during the second quarter. Invesco Ltd. now owns 4,942,533 shares of the company’s stock worth $462,769,000 after purchasing an additional 2,212,487 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $95.87 on Monday. The stock has a market capitalization of $86.20 billion, a P/E ratio of 41.28, a P/E/G ratio of 1.55 and a beta of 2.44. The business’s fifty day moving average is $118.03 and its two-hundred day moving average is $119.99. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HOOD. Zacks Research cut shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Mizuho boosted their price target on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. CICC Research assumed coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 target price for the company. Argus initiated coverage on shares of Robinhood Markets in a research report on Friday, January 9th. They set a “buy” rating and a $145.00 price objective for the company. Finally, Truist Financial assumed coverage on Robinhood Markets in a research note on Wednesday, December 17th. They issued a “buy” rating and a $155.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $136.62.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.63, for a total value of $45,611,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven M. Quirk sold 49,942 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was 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 of the company’s stock, valued at $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,853,425 shares of company stock valued at $354,452,058 in the last three months. 19.95% of the stock is currently owned by insiders.

Robinhood Markets 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.