Interchange Capital Partners LLC Reduces Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Interchange Capital Partners LLC cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,105 shares of the company's stock after selling 3,243 shares during the quarter. Interchange Capital Partners LLC's holdings in Robinhood Markets were worth $504,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC increased its stake 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 in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the first quarter valued at about $30,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $34,000. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.46, for a total transaction of $26,966,067.48. Following the completion of the transaction, the director owned 7,863 shares in the company, valued at $506,848.98. This represents a 98.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Insiders sold a total of 2,441,838 shares of company stock worth $176,501,489 in the last 90 days. Insiders own 19.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Citigroup lifted their price target on shares of Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday. Cantor Fitzgerald lifted their price objective on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Mizuho lifted their price objective on shares of Robinhood Markets from $80.00 to $99.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Finally, Morgan Stanley raised their price target on Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. One equities 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $72.71.

Robinhood Markets Trading Down 1.8%

Shares of Robinhood Markets stock traded down $1.66 during trading hours on Tuesday, reaching $91.80. The stock had a trading volume of 33,283,318 shares, compared to its average volume of 29,634,816. The stock's 50 day moving average is $69.70 and its 200 day moving average is $53.95. The firm has a market capitalization of $81.28 billion, a PE ratio of 52.03, a PEG ratio of 4.80 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $100.88.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The company's revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.