Robinhood Markets, Inc. $HOOD Position Reduced by Signaturefd LLC

Key Points

• Signaturefd LLC has reduced its stake in Robinhood Markets by 1.8%, now holding 112,224 shares valued at $10.5 million after selling 2,053 shares in Q2.
• Robinhood's recent earnings report indicated a 45% year-over-year revenue increase, with reported EPS of $0.42, surpassing the consensus estimate of $0.30.
• Multiple analysts have upgraded their target prices for Robinhood's stock, with JMP Securities raising it from $125 to $130, indicating a generally positive outlook from Wall Street.

Signaturefd LLC trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,224 shares of the company's stock after selling 2,053 shares during the quarter. Signaturefd LLC's holdings in Robinhood Markets were worth $10,508,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth $951,479,000. Vanguard Group Inc. raised 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 purchasing an additional 5,874,701 shares during the period. AGF Management Ltd. raised its holdings in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the period. Wealthquest Corp acquired a new stake in shares of Robinhood Markets during the first quarter worth $156,193,000. Finally, Altimeter Capital Management LP acquired a new stake in shares of Robinhood Markets during the first quarter worth $120,103,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 0.7%

Shares of NASDAQ:HOOD opened at $121.78 on Friday. The company has a market cap of $108.22 billion, a PE ratio of 61.82, a P/E/G ratio of 4.37 and a beta of 2.36. The company's 50-day moving average price is $110.49 and its 200 day moving average price is $78.76. Robinhood Markets, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $130.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HOOD shares. JMP Securities increased their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Morgan Stanley increased their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Barclays increased their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Compass Point increased their target price 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. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $104.06.

Insider Activity

In related news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681,462 shares of company stock valued at $581,726,917. Corporate insiders own 14.47% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.