Edgestream Partners L.P. Sells 31,434 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Edgestream Partners L.P. reduced its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,250 shares of the company's stock after selling 31,434 shares during the period. Edgestream Partners L.P.'s holdings in Robinhood Markets were worth $4,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Norges Bank bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $329,598,000. GQG Partners LLC bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership bought a new stake in Robinhood Markets in the fourth quarter valued at approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after acquiring an additional 3,994,745 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 2.2%

NASDAQ HOOD traded up $2.31 on Thursday, reaching $105.56. The company had a trading volume of 29,606,122 shares, compared to its average volume of 30,642,532. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $106.40. The stock has a market capitalization of $93.47 billion, a P/E ratio of 59.94, a P/E/G ratio of 5.14 and a beta of 2.36. The company's fifty day moving average is $76.60 and its 200 day moving average is $56.58.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same period in the prior year, the business earned $0.18 earnings per share. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

HOOD has been the topic of several analyst reports. Compass Point upped their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Cantor Fitzgerald boosted their price target on Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JMP Securities boosted their price target on Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a research note on Monday. Finally, Piper Sandler boosted their price target on Robinhood Markets from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.29.

Insider Activity

In other news, CEO Vladimir Tenev sold 114,175 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $101.65, for a total transaction of $11,605,888.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the sale, the insider directly owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. This represents a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,364,145 shares of company stock worth $181,837,741. 14.47% of the stock is owned by insiders.

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.