Robinhood Markets, Inc. $HOOD Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP cut its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 19.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 281,685 shares of the company’s stock after selling 66,122 shares during the period. Robinhood Markets makes up approximately 1.0% of Baker Avenue Asset Management LP’s holdings, making the stock its 25th largest holding. Baker Avenue Asset Management LP’s holdings in Robinhood Markets were worth $40,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HOOD. Hantz Financial Services Inc. lifted its position in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares in the last quarter. Valley National Advisers Inc. increased its stake in Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the period. Smithfield Trust Co purchased a new stake in Robinhood Markets during the 2nd quarter worth $29,000. Twin Peaks Wealth Advisors LLC acquired a new position in Robinhood Markets in the 2nd quarter worth $34,000. Finally, V Square Quantitative Management LLC purchased a new position in Robinhood Markets in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HOOD. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a research report on Monday, December 22nd. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Truist Financial began coverage on Robinhood Markets in a report on Wednesday, December 17th. They set a “buy” rating and a $155.00 price objective on the stock. Needham & Company LLC reduced their target price on Robinhood Markets from $145.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, December 29th. Finally, Barclays decreased their price target on shares of Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $136.62.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $116.56, for a total transaction of $48,761,477.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,878,425 shares of company stock valued at $358,332,025 in the last ninety days. 14.47% of the stock is owned by insiders.

Robinhood Markets Trading Up 0.7%

Shares of HOOD opened at $106.99 on Friday. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The firm has a market cap of $96.20 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 1.67 and a beta of 2.44. The stock has a 50 day moving average of $118.95 and a 200-day moving average of $119.50.

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

About Robinhood Markets

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.