Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Position Reduced by Quest Partners LLC

Quest Partners LLC lessened its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 54.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,361 shares of the company’s stock after selling 1,604 shares during the quarter. Quest Partners LLC’s holdings in Robinhood Markets were worth $31,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the last quarter. ORG Partners LLC acquired a new position in Robinhood Markets in the 2nd quarter worth about $33,000. Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets in the 1st quarter worth about $34,000. International Assets Investment Management LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth about $40,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity

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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Jason Warnick sold 25,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the transaction, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,204,096 shares of company stock worth $23,603,793. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $22.81 on Friday. The company’s fifty day moving average is $20.56 and its two-hundred day moving average is $19.89. Robinhood Markets, Inc. has a 52-week low of $7.91 and a 52-week high of $24.88. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 152.07 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and raised their price target for the company from $21.00 to $24.00 in a report on Thursday, August 15th. Citigroup raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price on the stock in a research report on Monday, August 5th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target for the company in a research report on Wednesday, June 26th. Finally, JMP Securities reissued a “market outperform” rating and set 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 assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.10.

About Robinhood Markets

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.