TimesSquare Capital Management LLC Trims Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

TimesSquare Capital Management LLC lessened its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 23.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,455,795 shares of the company’s stock after selling 458,265 shares during the period. TimesSquare Capital Management LLC owned 0.16% of Robinhood Markets worth $60,590,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in HOOD. FMR LLC increased its stake in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. Norges Bank purchased a new position in Robinhood Markets in the 4th quarter worth about $329,598,000. GQG Partners LLC purchased a new position in Robinhood Markets during the 4th quarter valued at about $302,325,000. Artisan Partners Limited Partnership purchased a new position in Robinhood Markets during the 4th quarter valued at about $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its position in Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 0.4%

HOOD stock opened at $98.34 on Monday. The firm has a 50 day moving average of $73.48 and a 200 day moving average of $55.53. The stock has a market capitalization of $87.08 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 5.25 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $101.50.

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

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $93.51, for a total transaction of $548,342.64. Following the completion of the sale, the chief technology officer directly owned 8,908 shares in the company, valued at approximately $832,987.08. The trade was a 39.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $93.88, for a total transaction 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. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,472,702 shares of company stock worth $179,396,832. Corporate insiders own 14.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Compass Point raised their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Redburn Atlantic reissued a “sell” rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Cantor Fitzgerald raised their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Morgan Stanley raised their target price on shares of Robinhood Markets from $40.00 to $43.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $71.00 target price on shares of Robinhood Markets in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.06.

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.