Quantbot Technologies LP Decreases Position in Robinhood Markets, Inc. $HOOD

Key Points

• Quantbot Technologies LP significantly reduced its stake in Robinhood Markets, selling 196,300 shares and lowering its holdings by 73.1% to 72,364 shares.
• Despite the sell-off by Quantbot, other institutional investors such as TD Private Client Wealth LLC and Deutsche Bank AG increased their positions in Robinhood, reflecting a mixed sentiment among large investors.
• Robinhood Markets reported strong earnings with an EPS of $0.42, surpassing expectations, and a revenue increase of 45.0% year-over-year, showcasing robust financial performance.

Quantbot Technologies LP lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 73.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,364 shares of the company's stock after selling 196,300 shares during the period. Quantbot Technologies LP's holdings in Robinhood Markets were worth $3,012,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HOOD. Whipplewood Advisors LLC grew its holdings in 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 acquiring an additional 508 shares during the last quarter. Hemington Wealth Management grew its holdings in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Robinhood Markets in the 1st quarter worth $30,000. CoreCap Advisors LLC grew its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares during the last quarter. Finally, Pandora Wealth Inc. bought a new stake in Robinhood Markets in the 1st quarter worth $33,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $3.02 during trading hours on Friday, reaching $109.32. 39,820,141 shares of the company's stock traded hands, compared to its average volume of 41,865,128. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70. The firm has a market cap of $97.15 billion, a PE ratio of 55.49, a PEG ratio of 3.90 and a beta of 2.36. The firm has a 50-day simple moving average of $98.88 and a 200 day simple moving average of $68.10.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period last year, the company posted $0.21 EPS. Robinhood Markets's revenue was up 45.0% on a year-over-year basis. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Needham & Company LLC lifted their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Cantor Fitzgerald lifted their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group lifted their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.31.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Tuesday, July 1st. The stock was 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 4,644,685 shares of company stock valued at $448,881,884 over the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

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.