Generate Investment Management Ltd Reduces Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• Generate Investment Management Ltd has significantly reduced its stake in Robinhood Markets, cutting its position by 62% in the 2nd quarter, now holding 139,883 shares valued at approximately $13.1 million.
• Multiple analysts have raised their price targets for Robinhood Markets, with Goldman Sachs increasing its target from $91 to $104 and Citigroup from $120 to $135, indicating positive future expectations for the stock.
• Insiders at Robinhood Markets have sold over 5.6 million shares during the last quarter, highlighting significant insider trading activity, with one director selling 1,093,288 shares for about $113.6 million.

Generate Investment Management Ltd trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 62.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,883 shares of the company's stock after selling 227,834 shares during the period. Generate Investment Management Ltd's holdings in Robinhood Markets were worth $13,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Robinhood Markets during the 2nd quarter valued at $36,000. Whipplewood Advisors LLC grew its stake in shares of Robinhood Markets by 564.4% during 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 period. Hemington Wealth Management lifted its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets in the first quarter worth approximately $30,000. Finally, ST Germain D J Co. Inc. bought a new stake in Robinhood Markets during the second quarter valued at approximately $72,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Needham & Company LLC upped their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Citigroup increased their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Eleven investment 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.06.

Insider Transactions at Robinhood Markets

In related news, Director Meyer Malka sold 1,093,288 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the sale, the insider owned 591,887 shares in the company, valued at $59,170,943.39. This represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,462 shares of company stock valued at $581,726,917 over the last quarter. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Down 0.7%

HOOD opened at $121.78 on Monday. The firm has a 50-day simple moving average of $110.49 and a two-hundred day simple moving average of $79.34. Robinhood Markets, Inc. has a 52 week low of $22.05 and a 52 week high of $130.07. The company has a market capitalization of $108.22 billion, a PE ratio of 61.82, a price-to-earnings-growth ratio of 4.34 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results 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. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The business's revenue was up 45.0% compared to the same quarter last year. As a group, sell-side analysts expect 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.

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