Udine Wealth Management Inc. Reduces Stock Holdings in Robinhood Markets, Inc. $HOOD

Udine Wealth Management Inc. lowered its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 33.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 54,040 shares of the company’s stock after selling 27,700 shares during the period. Robinhood Markets accounts for approximately 3.0% of Udine Wealth Management Inc.’s holdings, making the stock its 9th biggest position. Udine Wealth Management Inc.’s holdings in Robinhood Markets were worth $5,060,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HOOD. Farther Finance Advisors LLC lifted its holdings in shares of Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock valued at $290,000 after purchasing an additional 265 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at $277,000. GAMMA Investing LLC lifted its holdings in shares of Robinhood Markets by 40.2% in the first quarter. GAMMA Investing LLC now owns 8,210 shares of the company’s stock valued at $342,000 after purchasing an additional 2,352 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Robinhood Markets by 58.6% in the first quarter. SG Americas Securities LLC now owns 95,368 shares of the company’s stock valued at $3,969,000 after purchasing an additional 35,250 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Robinhood Markets in the first quarter valued at $85,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Trading Down 8.9%

NASDAQ HOOD opened at $138.96 on Friday. Robinhood Markets, Inc. has a 1-year low of $23.00 and a 1-year high of $153.86. The company has a market capitalization of $123.49 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 3.86 and a beta of 2.42. The firm’s fifty day simple moving average is $118.70 and its 200-day simple moving average is $86.09.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. Citizens Jmp increased their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday. JMP Securities increased their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday. Citigroup increased their target price on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares of the company’s stock, valued at $413,011,425.58. This represents a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares in the company, valued at $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681,122 shares of company stock valued at $618,215,681. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Company 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.