Cwm LLC Sells 5,212 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Cwm LLC has reduced its stake in Robinhood Markets, Inc. by 5.9%, selling 5,212 shares, which brings its total holdings to 83,412 shares valued at approximately $7.81 million.
• Several institutional investors have increased their positions in Robinhood, with Vanguard Group Inc. now holding over 74 million shares worth approximately $3.09 billion.
• Robinhood's stock performance shows significant growth, with a 52-week high of $153.86 and an earnings report indicating revenue increase of 45% year-over-year, reaching $989 million last quarter.

Cwm LLC trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,412 shares of the company's stock after selling 5,212 shares during the quarter. Cwm LLC's holdings in Robinhood Markets were worth $7,810,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets during the 2nd quarter worth approximately $951,479,000. AGF Management Ltd. increased its position in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Robinhood Markets by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock worth $201,913,000 after purchasing an additional 131,620 shares in the last quarter. Finally, Northern Trust Corp increased its position in Robinhood Markets by 4.2% during the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock worth $169,035,000 after purchasing an additional 163,823 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $147.53, for a total transaction of $865,115.92. Following the completion of the sale, the chief technology officer directly owned 11,952 shares in the company, valued at $1,763,278.56. This represents a 32.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the sale, the insider owned 565,949 shares of the company's stock, valued at approximately $83,952,874.66. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,181,462 shares of company stock valued at $567,328,871 over the last 90 days. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Performance

HOOD stock opened at $134.95 on Wednesday. The company has a fifty day moving average price of $119.98 and a 200-day moving average price of $87.41. The company has a market capitalization of $119.93 billion, a P/E ratio of 68.50, a PEG ratio of 3.79 and a beta of 2.42. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HOOD shares. The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Barclays upped their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Bank of America raised their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Finally, Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $118.94.

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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