Sierra Summit Advisors LLC Cuts Position in Robinhood Markets, Inc. $HOOD

Sierra Summit Advisors LLC lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 184,159 shares of the company’s stock after selling 16,518 shares during the period. Robinhood Markets comprises about 3.1% of Sierra Summit Advisors LLC’s holdings, making the stock its 4th largest position. Sierra Summit Advisors LLC’s holdings in Robinhood Markets were worth $17,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Titleist Asset Management LLC boosted its position in Robinhood Markets by 6.4% during the 2nd quarter. Titleist Asset Management LLC now owns 23,304 shares of the company’s stock valued at $2,182,000 after acquiring an additional 1,412 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Robinhood Markets by 3.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,019,451 shares of the company’s stock valued at $469,971,000 after purchasing an additional 168,099 shares during the period. American Century Companies Inc. boosted its position in shares of Robinhood Markets by 33.0% during the second quarter. American Century Companies Inc. now owns 143,764 shares of the company’s stock valued at $13,461,000 after purchasing an additional 35,711 shares in the last quarter. Cozad Asset Management Inc. bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $559,000. Finally, Stevens Capital Management LP purchased a new stake in Robinhood Markets in the second quarter worth $11,786,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the sale, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. The trade was a 21.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,134,080 shares of company stock valued at $626,549,514. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $107.30 on Friday. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The stock has a 50-day moving average of $132.32 and a 200 day moving average of $105.01. The company has a market capitalization of $96.48 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 2.41 and a beta of 2.42.

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

Analyst Upgrades and Downgrades

HOOD has been the subject of several recent research reports. Bank of America raised their price objective on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Mizuho lifted their price target on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. KeyCorp boosted their price objective on shares of Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Needham & Company LLC upped their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Loop Capital set a $161.00 target price on shares of Robinhood Markets in a report on Monday, October 27th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.95.

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.