Robinhood Markets, Inc. $HOOD Shares Sold by Steadview Capital Management LLC

Key Points

• Steadview Capital Management reduced its Robinhood stake by 27.4% in the fourth quarter, selling 428,890 shares. Even after the cut, Robinhood remained Steadview’s largest holding at about 24.2% of its portfolio.
• Wall Street remains cautiously positive on HOOD, with 18 analysts rating it a Buy and the consensus target price at $107.88. Recent firms trimmed price targets, but the overall rating stayed at Moderate Buy.
• Robinhood’s latest quarterly results missed earnings and revenue estimates, though revenue still rose 15.1% year over year. The stock was trading at $73.64, well below its 52-week high of $153.86.

Steadview Capital Management LLC cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,138,330 shares of the company's stock after selling 428,890 shares during the period. Robinhood Markets comprises approximately 24.2% of Steadview Capital Management LLC's holdings, making the stock its largest holding. Steadview Capital Management LLC owned approximately 0.13% of Robinhood Markets worth $128,745,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Evoke Wealth LLC raised its holdings in shares of Robinhood Markets by 2.1% in the 4th quarter. Evoke Wealth LLC now owns 13,981 shares of the company's stock worth $1,581,000 after buying an additional 291 shares in the last quarter. Principle Wealth Partners LLC acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $370,000. Ignite Planners LLC raised its holdings in shares of Robinhood Markets by 24.2% in the 4th quarter. Ignite Planners LLC now owns 2,127 shares of the company's stock worth $241,000 after buying an additional 414 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Robinhood Markets by 155.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 70,962 shares of the company's stock worth $8,026,000 after buying an additional 43,224 shares in the last quarter. Finally, Kingdom Financial Group LLC. acquired a new position in shares of Robinhood Markets in the 4th quarter worth approximately $271,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HOOD. New Street Research set a $122.00 target price on Robinhood Markets in a report on Thursday, March 5th. Jefferies Financial Group dropped their price target on Robinhood Markets from $88.00 to $84.00 and set a "buy" rating for the company in a report on Monday, April 6th. The Goldman Sachs Group dropped their price target on Robinhood Markets from $102.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, March 26th. Barclays dropped their price target on Robinhood Markets from $89.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Finally, Compass Point reaffirmed a "buy" rating on shares of Robinhood Markets in a report on Wednesday, February 11th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $107.88.

Robinhood Markets Price Performance

HOOD stock opened at $73.64 on Friday. The business has a fifty day moving average price of $76.11 and a 200 day moving average price of $96.47. Robinhood Markets, Inc. has a fifty-two week low of $62.63 and a fifty-two week high of $153.86. The stock has a market capitalization of $66.31 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.46 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.88 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the transaction, the insider directly owned 432,849 shares in the company, valued at approximately $33,281,759.61. This trade represents a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total value of $5,082,270.36. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 560,765 shares of company stock worth $40,946,840. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Profile

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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