Regal Partners Ltd Trims Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Regal Partners Ltd has sold 18,026 shares of Robinhood Markets, Inc., reducing its stake by 72.1%, leaving it with 6,974 shares valued at approximately $290,000.
• Insider selling has been significant, with CEO Vladimir Tenev selling 750,000 shares worth nearly $70 million, and insiders collectively selling over 4.6 million shares in the past ninety days.
• Wall Street analysts have mixed opinions on Robinhood's stock, with price targets ranging from $48 to $130, reflecting varied optimism around the company's performance and outlook after its recent earnings report.

Regal Partners Ltd reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 72.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,974 shares of the company's stock after selling 18,026 shares during the period. Regal Partners Ltd's holdings in Robinhood Markets were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. AGF Management Ltd. grew its holdings in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares during the period. Wealthquest Corp acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at about $156,193,000. Finally, AQR Capital Management LLC lifted its position in Robinhood Markets by 231.9% in the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after acquiring an additional 3,673,861 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 1.9%

Shares of NASDAQ HOOD traded up $2.09 during trading hours on Thursday, hitting $110.71. 34,270,756 shares of the stock were exchanged, compared to its average volume of 41,803,992. The company has a market cap of $98.39 billion, a PE ratio of 56.20, a PEG ratio of 4.35 and a beta of 2.36. The firm has a fifty day moving average price of $93.81 and a 200-day moving average price of $65.27. Robinhood Markets, Inc. has a 12 month low of $18.71 and a 12 month high of $117.70.

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. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $104.73, for a total transaction of $614,136.72. Following the transaction, the chief technology officer directly owned 3,044 shares of the company's stock, valued at $318,798.12. This trade represents a 65.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 10,518 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $100.10, for a total transaction of $1,052,851.80. The disclosure for this sale can be found here. Insiders sold a total of 4,644,685 shares of company stock valued at $430,085,957 in the last three months. Corporate insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays lifted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price objective 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. Redburn Atlantic restated a "sell" rating and set a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Compass Point lifted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.31.

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.