Global Assets Advisory LLC Trims Stake in Robinhood Markets, Inc. $HOOD

Key Points

• Global Assets Advisory LLC reduced its stake in Robinhood Markets by 59.3%, bringing its holdings down to 13,148 shares worth approximately $1.21 million as of its recent SEC filing.
• Robinhood Markets reported $0.42 earnings per share for the last quarter, exceeding analyst expectations of $0.30, with revenue rising 45% from the previous year to $989 million.
• CEO Vladimir Tenev sold 750,000 shares for about $104.8 million in early October, amid significant insider activity where executives collectively sold over 5.6 million shares in the last quarter.

Global Assets Advisory LLC lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 59.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,148 shares of the company's stock after selling 19,159 shares during the period. Global Assets Advisory LLC's holdings in Robinhood Markets were worth $1,214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. HighTower Advisors LLC lifted its stake in shares of Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after purchasing an additional 3,032 shares during the period. TD Private Client Wealth LLC lifted its position in Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after buying an additional 1,186 shares during the period. Wellington Management Group LLP lifted its position in Robinhood Markets by 3.1% during the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after buying an additional 486 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Robinhood Markets by 125.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after buying an additional 10,703 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Robinhood Markets in the 1st quarter valued at about $277,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 2.0%

HOOD stock opened at $148.67 on Monday. The stock's 50 day simple moving average is $114.45 and its 200 day simple moving average is $82.87. Robinhood Markets, Inc. has a 12-month low of $22.61 and a 12-month high of $150.21. The firm has a market cap of $132.12 billion, a P/E ratio of 75.47, a P/E/G ratio of 4.13 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating 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 firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. KeyCorp raised their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Mizuho increased their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. 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. Morgan Stanley upped their price objective on Robinhood Markets from $110.00 to $146.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. Finally, Compass Point increased their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $113.59.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total value of $2,523,000.00. Following the completion of the sale, the insider directly owned 610,949 shares in the company, valued at approximately $61,656,973.08. This trade represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,650,598 shares of company stock valued at $613,676,575 over the last quarter. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Company Profile

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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