Persistent Asset Partners Ltd Sells 10,696 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Persistent Asset Partners Ltd has reduced its holdings in Robinhood Markets, Inc. by 52.7%, selling 10,696 shares and now owns 9,619 shares valued at approximately $400,000.
• Several analysts have increased their price targets for Robinhood Markets, with estimates ranging from $85.00 to $110.00, reflecting a strong consensus rating of "Moderate Buy".
• Insider transactions included significant sales by executives, with the CTO selling 5,864 shares and the CEO selling 385,485 shares, indicating notable insider activity in the company.

Persistent Asset Partners Ltd lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 52.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,619 shares of the company's stock after selling 10,696 shares during the period. Persistent Asset Partners Ltd's holdings in Robinhood Markets were worth $400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC raised its holdings in shares of Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock valued at $76,000 after buying an additional 1,186 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Robinhood Markets in the first quarter worth $277,000. Burns Matteson Capital Management LLC purchased a new position in shares of Robinhood Markets in the first quarter worth $495,000. Fiduciary Alliance LLC purchased a new position in shares of Robinhood Markets in the first quarter worth $2,177,000. Finally, Invesco Ltd. raised its stake in shares of Robinhood Markets by 132.6% in the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock worth $106,847,000 after purchasing an additional 1,634,599 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HOOD shares. Keefe, Bruyette & Woods boosted their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. 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. Morgan Stanley raised their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $104.73, for a total value of $614,136.72. Following the transaction, the chief technology officer owned 3,044 shares in the company, valued at $318,798.12. The trade was a 65.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 385,485 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total transaction of $39,280,921.50. The disclosure for this sale can be found here. Insiders sold 4,644,685 shares of company stock worth $430,085,957 in the last quarter. Insiders own 19.95% of the company's stock.

Robinhood Markets Trading Down 0.9%

HOOD stock opened at $113.62 on Tuesday. The firm has a 50 day moving average of $92.24 and a 200-day moving average of $64.62. Robinhood Markets, Inc. has a 12-month low of $18.11 and a 12-month high of $117.47. The company has a market cap of $100.97 billion, a price-to-earnings ratio of 57.68, a PEG ratio of 4.37 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The company's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.

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