Benjamin Edwards Inc. Reduces Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Benjamin Edwards Inc. cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 16.1% in the first quarter, Holdings Channel.com reports. The firm owned 53,934 shares of the company’s stock after selling 10,363 shares during the quarter. Benjamin Edwards Inc.’s holdings in Robinhood Markets were worth $2,245,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in HOOD. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after acquiring an additional 3,994,745 shares during the period. Wealthquest Corp purchased a new position in Robinhood Markets in the first quarter worth approximately $156,193,000. AQR Capital Management LLC grew its position in Robinhood Markets by 231.9% in the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company’s stock worth $195,907,000 after acquiring an additional 3,673,861 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new position in Robinhood Markets in the fourth quarter worth approximately $130,410,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HOOD shares. JMP Securities increased their price objective on Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a research report on Thursday, July 31st. Cantor Fitzgerald increased their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Mizuho increased their price objective on Robinhood Markets from $99.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.29.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 40,131 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total value of $4,202,117.01. Following the sale, the insider directly owned 120,408 shares in the company, valued at $12,607,921.68. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $104.73, for a total value of $614,136.72. Following the completion of the sale, the chief technology officer owned 3,044 shares in the company, valued at approximately $318,798.12. This represents a 65.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,644,685 shares of company stock valued at $430,085,957 over the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Trading Down 0.9%

Shares of NASDAQ HOOD opened at $113.62 on Tuesday. The stock has a market cap of $100.97 billion, a P/E ratio of 57.68, a PEG ratio of 4.37 and a beta of 2.36. Robinhood Markets, Inc. has a 12-month low of $18.11 and a 12-month high of $117.47. The business’s fifty day simple moving average is $92.24 and its 200-day simple moving average is $64.62.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The company’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Profile

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.