Vident Advisory LLC Sells 11,406 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Vident Advisory LLC reduced its stake in Robinhood Markets by 10.5%, selling 11,406 shares and holding 97,700 shares worth approximately $4.07 million.
• Major firms have increased their targets for Robinhood's stock, with analysts from Goldman Sachs and Barclays now setting target prices at $104.00 and $120.00 respectively.
• The company reported earnings of $0.42 EPS for the last quarter, exceeding expectations, with quarterly revenue increasing by 45% year-over-year to $989 million.

Vident Advisory LLC trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,700 shares of the company's stock after selling 11,406 shares during the period. Vident Advisory LLC's holdings in Robinhood Markets were worth $4,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares during the period. AGF Management Ltd. boosted its stake in 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 acquiring an additional 4,255,862 shares in the last quarter. Wealthquest Corp purchased a new stake in Robinhood Markets in the first quarter worth about $156,193,000. Southpoint Capital Advisors LP bought a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $130,410,000. Finally, Polar Capital Holdings Plc purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $125,252,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $104.73, for a total transaction of $614,136.72. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $104.23, for a total value of $2,605,750.00. Following the completion of the transaction, the insider owned 566,887 shares in the company, 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. Insiders have sold a total of 5,688,606 shares of company stock worth $561,670,429 in the last 90 days. Insiders own 19.95% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Needham & Company LLC boosted their target price on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Morgan Stanley raised their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. KeyCorp upped their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Cantor Fitzgerald increased their price objective 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. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Trading Down 3.1%

NASDAQ:HOOD traded down $3.19 during mid-day trading on Tuesday, reaching $100.84. The company's stock had a trading volume of 40,803,754 shares, compared to its average volume of 41,375,988. The stock has a market cap of $89.61 billion, a P/E ratio of 51.19, a PEG ratio of 3.81 and a beta of 2.36. The firm's fifty day moving average price is $102.25 and its two-hundred day moving average price is $70.27. Robinhood Markets, Inc. has a 12-month low of $18.71 and a 12-month high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same period in the previous year, the business posted $0.21 earnings per share. The business's revenue for the quarter was up 45.0% on a year-over-year basis. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.