Circle Wealth Management LLC Lowers Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• Circle Wealth Management LLC has reduced its stake in Robinhood Markets by 46.1%, owning 40,690 shares valued at $1,694,000 after selling 34,827 shares during the first quarter.
• Several large investors, including Whipplewood Advisors LLC with a 564.4% increase in holdings, have adjusted their positions in Robinhood Markets amidst increasing institutional interest, which currently stands at 93.27% ownership.
• Robinhood Markets reported earnings of $0.42 per share, exceeding expectations, and showed a **45.0% year-over-year revenue growth**, with analysts providing a consensus rating of "Moderate Buy" and an average target price of $100.31.

Circle Wealth Management LLC cut its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 46.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,690 shares of the company's stock after selling 34,827 shares during the period. Circle Wealth Management LLC's holdings in Robinhood Markets were worth $1,694,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Whipplewood Advisors LLC increased its holdings in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management boosted its position in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at $30,000. Pandora Wealth Inc. purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at $33,000. Finally, CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at $16,035,476.94. This trade represents a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,644,685 shares of company stock worth $448,881,884. Insiders own 14.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Cantor Fitzgerald lifted their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Morgan Stanley raised their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Stock Up 0.9%

NASDAQ HOOD opened at $106.30 on Friday. Robinhood Markets, Inc. has a 52 week low of $18.71 and a 52 week high of $117.70. The firm has a 50 day moving average of $98.15 and a two-hundred day moving average of $67.71. The stock has a market capitalization of $94.47 billion, a PE ratio of 53.96, a price-to-earnings-growth ratio of 3.86 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company's revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.

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