Interchange Capital Partners LLC Trims Position in Robinhood Markets, Inc. $HOOD

Interchange Capital Partners LLC trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 90.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,215 shares of the company’s stock after selling 10,890 shares during the period. Interchange Capital Partners LLC’s holdings in Robinhood Markets were worth $114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mutual Advisors LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth $333,000. Ritholtz Wealth Management increased its holdings in shares of Robinhood Markets by 43.3% during the 2nd quarter. Ritholtz Wealth Management now owns 16,560 shares of the company’s stock worth $1,551,000 after buying an additional 5,001 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Robinhood Markets by 96.8% during the 2nd quarter. Harbour Investments Inc. now owns 43,805 shares of the company’s stock worth $4,101,000 after buying an additional 21,548 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth $1,040,000. Finally, Sagespring Wealth Partners LLC increased its holdings in shares of Robinhood Markets by 52.4% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 9,400 shares of the company’s stock worth $880,000 after buying an additional 3,230 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $134.95 on Wednesday. The business’s 50-day moving average is $119.98 and its two-hundred day moving average is $87.41. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86. The firm has a market capitalization of $119.93 billion, a PE ratio of 68.50, a price-to-earnings-growth ratio of 3.79 and a beta of 2.42.

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

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research analyst reports. Citizens Jmp upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a report on Thursday, October 9th. Bank of America upped their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. JMP Securities upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, October 9th. Compass Point increased their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. Finally, Cantor Fitzgerald raised their price objective on Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.94.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,181,462 shares of company stock valued at $567,328,871. 19.95% of the stock is currently owned by insiders.

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.