Robinhood Markets, Inc. $HOOD Shares Sold by KADENSA CAPITAL Ltd

Key Points

• KADENSA CAPITAL Ltd reduced its stake in Robinhood Markets by 54.6% in the first quarter, leaving it with 505,814 shares valued at approximately $21 million.
• Robinhood reported a 45% increase in quarterly revenue year-over-year, reaching $989 million and surpassed analysts' earnings expectations.
• Equities analysts have set new price targets for Robinhood, with Goldman Sachs increasing their target from $91 to $104, reflecting a general bullish sentiment on the stock.

KADENSA CAPITAL Ltd lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 54.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 505,814 shares of the company's stock after selling 607,913 shares during the period. Robinhood Markets accounts for about 2.6% of KADENSA CAPITAL Ltd's investment portfolio, making the stock its 8th biggest holding. KADENSA CAPITAL Ltd owned approximately 0.06% of Robinhood Markets worth $21,052,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC increased its stake in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares during the period. Hemington Wealth Management raised its holdings in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth $30,000. CoreCap Advisors LLC increased its stake in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares during the last quarter. Finally, Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets during the 1st quarter worth about $33,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded up $16.03 during trading on Monday, hitting $117.28. The company's stock had a trading volume of 101,051,775 shares, compared to its average volume of 41,687,352. The company has a 50-day moving average of $103.72 and a 200-day moving average of $71.42. Robinhood Markets, Inc. has a 12 month low of $18.83 and a 12 month high of $117.70. The firm has a market cap of $104.22 billion, a price-to-earnings ratio of 59.53, a P/E/G ratio of 3.71 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results 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 company had revenue of $989.00 million during 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%. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HOOD shares. Barclays boosted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Morgan Stanley raised their price target 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. Cantor Fitzgerald raised their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC raised their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $109.39, for a total value of $45,761,993.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company's stock, valued at $9,531,353.14. This trade represents a 38.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,767,854 shares of company stock valued at $569,828,413 in the last three months. 14.47% of the stock is owned by company 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.