Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Position Trimmed by Ieq Capital LLC

Ieq Capital LLC decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 36.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 166,306 shares of the company’s stock after selling 94,685 shares during the period. Ieq Capital LLC’s holdings in Robinhood Markets were worth $3,777,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in HOOD. PNC Financial Services Group Inc. grew its holdings in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. ORG Partners LLC bought a new position in shares of Robinhood Markets in the second quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets during the first quarter valued at $34,000. International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at about $40,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Robinhood Markets in the second quarter worth about $45,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Down 0.4 %

HOOD stock opened at $22.73 on Friday. The firm has a 50-day moving average of $20.58 and a two-hundred day moving average of $19.91. The firm has a market capitalization of $19.98 billion, a PE ratio of 151.53 and a beta of 1.82. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the transaction, the insider now directly owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the transaction, the insider now directly owns 956,247 shares in the company, valued at $21,802,431.60. The disclosure for this sale can be found here. Insiders sold a total of 1,204,096 shares of company stock valued at $23,603,793 over the last quarter. Company insiders own 19.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on HOOD. Morgan Stanley raised their target price on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Piper Sandler raised their price objective on shares of Robinhood Markets from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods cut their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.10.

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.