Prime Capital Investment Advisors LLC Sells 7,253 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Robinhood Markets, selling 7,253 shares in the second quarter, leaving them with 101,784 shares valued at approximately $9.53 million.
• Insider transactions included CEO Vladimir Tenev selling 750,000 shares for over $104 million, and a total of 5,650,598 shares sold by insiders in the last three months.
• Analyst ratings for Robinhood Markets include a majority of "Buy" ratings, with revised price targets ranging from $96 to $145, reflecting positive sentiment on the stock.

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,784 shares of the company's stock after selling 7,253 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Robinhood Markets were worth $9,530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Belpointe Asset Management LLC lifted its position in shares of Robinhood Markets by 260.9% during the second quarter. Belpointe Asset Management LLC now owns 22,126 shares of the company's stock worth $2,072,000 after purchasing an additional 15,995 shares during the last quarter. Petros Family Wealth LLC bought a new stake in shares of Robinhood Markets during the second quarter worth $563,000. DAVENPORT & Co LLC lifted its position in shares of Robinhood Markets by 528.8% during the second quarter. DAVENPORT & Co LLC now owns 65,899 shares of the company's stock worth $6,170,000 after purchasing an additional 55,419 shares during the last quarter. Highland Capital Management LLC bought a new stake in shares of Robinhood Markets during the second quarter worth $251,000. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of Robinhood Markets by 18.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 7,871 shares of the company's stock worth $737,000 after purchasing an additional 1,227 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup lifted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. KeyCorp lifted their price objective on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Mizuho lifted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a research note on Saturday, September 27th. Finally, Compass Point lifted their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $113.59.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction dated 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 sale, the insider owned 610,949 shares in the company, valued at $61,656,973.08. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,650,598 shares of company stock valued at $613,676,575. Insiders own 19.95% of the company's stock.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $144.26 on Tuesday. Robinhood Markets, Inc. has a fifty-two week low of $22.72 and a fifty-two week high of $153.86. The firm has a market capitalization of $128.20 billion, a price-to-earnings ratio of 73.23, a PEG ratio of 4.13 and a beta of 2.42. The stock's 50-day simple moving average is $115.20 and its 200-day simple moving average is $83.57.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million for 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 company's revenue was up 45.0% on a year-over-year basis. As a group, equities analysts forecast 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.

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