GLOBALT Investments LLC GA Sells 12,274 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• GLOBALT Investments LLC GA has reduced its stake in Robinhood Markets by 21.9%, now holding 43,732 shares valued at approximately $1.82 million.
• Robinhood recently posted earnings of $0.37 per share, missing expectations while achieving a revenue of $927 million for the quarter, marking a 50% increase year-over-year.
• CEO Vladimir Tenev recently sold 385,485 shares for over $39 million, highlighting significant insider activity as 2.7 million shares have been sold by insiders in the past 90 days.

GLOBALT Investments LLC GA lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,732 shares of the company's stock after selling 12,274 shares during the quarter. GLOBALT Investments LLC GA's holdings in Robinhood Markets were worth $1,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its stake in Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after acquiring an additional 171 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after acquiring an additional 265 shares during the period. Allworth Financial LP raised its holdings in shares of Robinhood Markets by 23.4% during the first quarter. Allworth Financial LP now owns 1,401 shares of the company's stock worth $58,000 after acquiring an additional 266 shares during the period. HighPoint Advisor Group LLC raised its holdings in shares of Robinhood Markets by 0.8% during the first quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after acquiring an additional 272 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in shares of Robinhood Markets by 1.1% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 28,850 shares of the company's stock worth $1,201,000 after acquiring an additional 320 shares during the period. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

HOOD has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. JMP Securities lifted their target price on shares of Robinhood Markets from $70.00 to $125.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Mizuho lifted their price objective on shares of Robinhood Markets from $80.00 to $99.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Barclays upped their price objective on shares of Robinhood Markets from $57.00 to $102.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $85.29.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the completion of the sale, the director directly owned 7,863 shares in the company, valued at approximately $584,142.27. This trade represents a 98.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,026,690 shares of company stock worth $257,160,102 in the last three months. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

HOOD stock traded up $2.88 during mid-day trading on Wednesday, hitting $106.20. The company had a trading volume of 13,483,906 shares, compared to its average volume of 41,388,855. The stock's fifty day moving average price is $84.57 and its two-hundred day moving average price is $60.74. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $113.44. The firm has a market cap of $94.04 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 5.44 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. Equities analysts anticipate 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.