Stephens Inc. AR Sells 1,069 Shares of Robinhood Markets, Inc. $HOOD

Stephens Inc. AR reduced its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 18.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,767 shares of the company’s stock after selling 1,069 shares during the quarter. Stephens Inc. AR’s holdings in Robinhood Markets were worth $446,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. HighTower Advisors LLC grew its position in Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after acquiring an additional 3,032 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock worth $76,000 after buying an additional 1,186 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Robinhood Markets by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after buying an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock worth $799,000 after buying an additional 10,703 shares in the last quarter. Finally, Metavasi Capital LP lifted its holdings in Robinhood Markets by 275.0% during the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after buying an additional 55,000 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HOOD. Bank of America upped their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Citigroup increased their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. KeyCorp increased their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Citizens Jmp increased their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a research note on Thursday, October 9th. Finally, Needham & Company LLC increased their price target on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.94.

Robinhood Markets Trading Up 4.1%

Shares of Robinhood Markets stock opened at $139.79 on Friday. The company has a market capitalization of $124.23 billion, a PE ratio of 70.96, a PEG ratio of 3.63 and a beta of 2.42. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86. The stock’s fifty day simple moving average is $123.41 and its 200 day simple moving average is $92.70.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,175,598 shares of company stock worth $579,779,430. 14.47% of the stock is currently owned by insiders.

Robinhood Markets 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.