Envestnet Asset Management Inc. Sells 5,529 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Envestnet Asset Management Inc. lowered its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,309 shares of the company’s stock after selling 5,529 shares during the period. Envestnet Asset Management Inc.’s holdings in Robinhood Markets were worth $2,233,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HOOD. PNC Financial Services Group Inc. grew its stake in Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. ORG Partners LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth about $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $34,000. International Assets Investment Management LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at approximately $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in Robinhood Markets during the 2nd quarter worth approximately $45,000. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Baiju Bhatt sold 120,236 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $22.20, for a total value of $2,669,239.20. The sale 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 stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Insiders have sold 964,889 shares of company stock worth $18,239,315 over the last 90 days. Company insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HOOD. Piper Sandler lifted their price target on shares of Robinhood Markets from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Citigroup upped their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Bank of America increased their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. KeyCorp boosted their price target on Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, The Goldman Sachs Group increased their price objective on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.63.

Robinhood Markets Trading Up 2.1 %

Shares of HOOD opened at $22.89 on Friday. The company has a market cap of $20.12 billion, a price-to-earnings ratio of 152.60 and a beta of 1.84. The company’s fifty day simple moving average is $20.56 and its 200 day simple moving average is $20.35. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping 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 company had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same period in the previous year, the business earned $0.03 EPS. Robinhood Markets’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, research analysts forecast that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

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.