Silvant Capital Management LLC Lowers Stake in Robinhood Markets, Inc. $HOOD

Key Points

• Silvant Capital Management LLC has reduced its stake in Robinhood Markets by 27.3%, selling 33,036 shares and owning 88,093 shares valued at approximately $3.67 million as of the end of the first quarter.
• Robinhood Markets reported earnings of $0.42 per share for the recent quarter, surpassing analyst expectations of $0.30, with revenue up 45% year-over-year.
• Several institutional investors, including Vanguard Group and AGF Management, significantly increased their holdings in Robinhood Markets, with 93.27% of the stock now owned by institutional investors.

Silvant Capital Management LLC lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 27.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,093 shares of the company's stock after selling 33,036 shares during the quarter. Silvant Capital Management LLC's holdings in Robinhood Markets were worth $3,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HOOD. Whipplewood Advisors LLC lifted its holdings in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during 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. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $33,000. Finally, 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. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of several analyst reports. Barclays raised their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. 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. Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, 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. Eleven research 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 has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Robinhood Markets Stock Up 0.7%

HOOD traded up $0.77 during trading on Thursday, hitting $103.69. The company's stock had a trading volume of 25,978,086 shares, compared to its average volume of 41,665,436. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70. The firm has a market cap of $92.15 billion, a PE ratio of 52.63, a P/E/G ratio of 3.77 and a beta of 2.36. The business's 50 day simple moving average is $101.18 and its 200-day simple moving average is $69.51.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The business 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 company's revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other 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 value of $614,136.72. Following the completion of the sale, the chief technology officer directly owned 3,044 shares of the company's stock, valued at $318,798.12. This represents a 65.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $104.23, for a total transaction of $2,605,750.00. Following the completion of the sale, the insider directly owned 566,887 shares of the company's stock, valued at approximately $59,086,632.01. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,644,685 shares of company stock valued at $448,881,884. Company insiders own 14.47% of the company's stock.

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.