Robinhood Markets, Inc. $HOOD Shares Sold by Gator Capital Management LLC

Key Points

• Gator Capital Management LLC reduced its stake in Robinhood Markets by 12.6% during the first quarter, holding 580,800 shares, which constitutes 9.2% of its total holdings.
• Insiders, including the company's director, sold significant amounts of Robinhood stock recently, with 4.6 million shares sold valued at over $430 million in the last three months.
• Robinhood reported a 45% increase in revenue for the quarter, generating $989 million, and also exceeded earnings expectations with an EPS of $0.42.

Gator Capital Management LLC lessened its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 12.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 580,800 shares of the company's stock after selling 83,500 shares during the period. Robinhood Markets comprises 9.2% of Gator Capital Management LLC's portfolio, making the stock its largest position. Gator Capital Management LLC owned 0.07% of Robinhood Markets worth $24,173,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Whipplewood Advisors LLC lifted its holdings in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management increased its position in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in Robinhood Markets in the 1st quarter valued at approximately $30,000. Pandora Wealth Inc. acquired a new stake in Robinhood Markets in the 1st quarter valued at approximately $33,000. Finally, CoreCap Advisors LLC increased its position in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares during the period. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

HOOD has been the topic of several research analyst reports. Citigroup lifted their price target on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Morgan Stanley lifted their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. JMP Securities lifted their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Finally, Mizuho lifted their price target on Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 10,518 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The stock was sold at an average price of $100.10, for a total transaction of $1,052,851.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Friday, July 25th. The shares were sold at an average price of $104.73, for a total value of $614,136.72. Following the sale, the chief technology officer directly owned 3,044 shares of the company's stock, valued at approximately $318,798.12. The trade was a 65.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,644,685 shares of company stock valued at $430,085,957 over the last quarter. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Up 0.7%

Shares of Robinhood Markets stock traded up $0.85 during midday trading on Monday, hitting $115.02. The company's stock had a trading volume of 35,384,724 shares, compared to its average volume of 41,671,664. The firm has a market capitalization of $102.21 billion, a P/E ratio of 58.39, a PEG ratio of 4.35 and a beta of 2.36. The stock has a 50-day simple moving average of $95.36 and a 200-day simple moving average of $66.35. Robinhood Markets, Inc. has a 1-year low of $18.71 and a 1-year high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 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 return on equity of 17.48% and a net margin of 50.13%. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current 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.