Penserra Capital Management LLC Has $2.68 Million Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Penserra Capital Management LLC lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 56.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,354 shares of the company's stock after selling 84,436 shares during the quarter. Penserra Capital Management LLC's holdings in Robinhood Markets were worth $2,677,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HOOD. Whipplewood Advisors LLC raised its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Robinhood Markets during the first quarter worth $30,000. CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Finally, Colonial Trust Co SC bought a new stake in Robinhood Markets during the fourth quarter worth $34,000. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on HOOD. JPMorgan Chase & Co. upped their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Morgan Stanley upped their price target on shares of Robinhood Markets from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $60.00 price target on shares of Robinhood Markets in a research report on Thursday, March 27th. Compass Point upped their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. One investment 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's stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $72.71.

Robinhood Markets Stock Performance

Shares of HOOD stock traded down $2.19 on Tuesday, hitting $91.27. The company's stock had a trading volume of 59,630,724 shares, compared to its average volume of 29,730,925. The stock's 50 day moving average is $69.70 and its 200-day moving average is $53.95. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $100.88. The company has a market capitalization of $80.82 billion, a PE ratio of 51.86, a PEG ratio of 4.80 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the business earned $0.18 earnings per share. Robinhood Markets's quarterly revenue was up 50.0% compared to the same quarter last year. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $77.82, for a total value of $456,336.48. Following the sale, the chief technology officer directly owned 14,772 shares in the company, valued at approximately $1,149,557.04. This trade represents a 28.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on 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 quarter. Corporate insiders own 19.95% of the company's stock.

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.