PDT Partners LLC Sells 145,551 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• PDT Partners LLC significantly reduced its stake in Robinhood Markets by 89.3%, now holding 17,454 shares valued at approximately $726,000 as of its latest SEC filing.
• Vanguard Group Inc. boosted its position in Robinhood by 8.6%, now owning 74,241,080 shares valued at over $3 billion, which is significant among other hedge funds increasing their stakes.
• Analysts are optimistic about Robinhood's prospects, with multiple firms raising their target prices to $120.00 and maintaining a consensus rating of "Moderate Buy" with an average target price of $100.31.

PDT Partners LLC reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 89.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,454 shares of the company's stock after selling 145,551 shares during the quarter. PDT Partners LLC's holdings in Robinhood Markets were worth $726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in HOOD. Whipplewood Advisors LLC boosted its position in shares of 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 purchasing an additional 508 shares in the last quarter. Hemington Wealth Management increased its position in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $30,000. CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Finally, Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $33,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded down $1.66 during trading on Friday, hitting $101.25. The company had a trading volume of 60,005,141 shares, compared to its average volume of 34,243,404. The stock has a market cap of $89.98 billion, a price-to-earnings ratio of 51.40, a price-to-earnings-growth ratio of 3.71 and a beta of 2.36. The company has a fifty day simple moving average of $103.72 and a two-hundred day simple moving average of $71.31. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70.

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 analysts' consensus estimates 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 return on equity of 17.48% and a net margin of 50.13%.The company's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. This represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company'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 value of $69,952,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,767,854 shares of company stock valued at $569,828,413. 14.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HOOD shares. Mizuho raised their price target on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. KeyCorp raised their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Morgan Stanley increased their price objective 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. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Robinhood Markets Profile

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.