DAVENPORT & Co LLC Sells 21,487 Shares of Robinhood Markets, Inc. $HOOD

DAVENPORT & Co LLC trimmed its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 32.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,412 shares of the company’s stock after selling 21,487 shares during the period. DAVENPORT & Co LLC’s holdings in Robinhood Markets were worth $6,359,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. increased its holdings in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after buying an additional 148 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets in the second quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Robinhood Markets during the second quarter valued at approximately $34,000. V Square Quantitative Management LLC purchased a new position in shares of Robinhood Markets during the second quarter valued at approximately $36,000. Finally, LGT Financial Advisors LLC bought a new position in Robinhood Markets during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Up 0.1%

Shares of HOOD opened at $120.32 on Friday. The business has a 50-day simple moving average of $128.03 and a two-hundred day simple moving average of $114.87. The stock has a market cap of $108.19 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 2.20 and a beta of 2.43. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business’s quarterly revenue was up 100.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,686,763 shares of company stock worth $475,848,059 over the last ninety days. Company insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barclays boosted their target price on shares of Robinhood Markets from $168.00 to $171.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Piper Sandler reiterated an “overweight” rating on shares of Robinhood Markets in a research report on Wednesday, November 26th. Keefe, Bruyette & Woods increased their target price on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Robinhood Markets in a research report on Friday, December 5th. Finally, Loop Capital set a $152.00 price target on shares of Robinhood Markets in a research report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.30.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.