GLOBALT Investments LLC GA Reduces Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

GLOBALT Investments LLC GA lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,732 shares of the company’s stock after selling 12,274 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Robinhood Markets were worth $1,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HOOD. Whipplewood Advisors LLC raised its stake in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after buying an additional 508 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets in the 1st quarter worth $30,000. CoreCap Advisors LLC grew its holdings in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after acquiring an additional 550 shares during the period. Colonial Trust Co SC bought a new stake in shares of Robinhood Markets in the fourth quarter worth $34,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after acquiring an additional 498 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 2.9%

Shares of NASDAQ:HOOD opened at $104.85 on Friday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $113.44. The stock has a market cap of $92.84 billion, a P/E ratio of 59.57, a price-to-earnings-growth ratio of 5.35 and a beta of 2.36. The business’s 50 day moving average is $82.95 and its 200 day moving average is $59.84.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million for the quarter, compared to analysts’ expectations of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm’s quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 385,485 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total transaction of $39,280,921.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $93.88, for a total value of $2,347,000.00. Following the sale, the insider owned 816,887 shares of the company’s stock, valued at approximately $76,689,351.56. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,696,644 shares of company stock worth $218,696,575. Company insiders own 14.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on HOOD. Needham & Company LLC reiterated a “buy” rating and set a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. Cantor Fitzgerald boosted their price objective on Robinhood Markets from $89.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Citigroup boosted their price objective on Robinhood Markets from $50.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $85.29.

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.