Robinhood Markets, Inc. $HOOD Stock Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Robinhood stake by 35.1% in the third quarter, selling 59,198 shares and retaining 109,656 shares valued at about $12.4 million.
• Robinhood insiders sold 1.10 million shares worth about $128.8 million over the last three months; insiders still own 13.48% of the company.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $126.45. Robinhood beat quarterly EPS estimates ($0.60 versus $0.56), while revenue of $1.42 billion fell short of estimates.

Candriam S.C.A. lessened its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 35.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,656 shares of the company's stock after selling 59,198 shares during the quarter. Candriam S.C.A.'s holdings in Robinhood Markets were worth $12,381,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HOOD. Amundi grew its position in shares of Robinhood Markets by 89.0% during the 1st quarter. Amundi now owns 6,385,232 shares of the company's stock worth $442,497,000 after buying an additional 3,007,103 shares during the period. Amova Asset Management Americas Inc. raised its stake in shares of Robinhood Markets by 15.0% during the first quarter. Amova Asset Management Americas Inc. now owns 5,240,796 shares of the company's stock worth $362,925,000 after buying an additional 685,041 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 48.6% in the first quarter. Renaissance Technologies LLC now owns 5,104,137 shares of the company's stock valued at $353,717,000 after buying an additional 1,668,400 shares during the period. Bank of New York Mellon Corp acquired a new position in Robinhood Markets in the second quarter valued at approximately $379,695,000. Finally, National Pension Service boosted its stake in Robinhood Markets by 5.1% in the second quarter. National Pension Service now owns 2,298,238 shares of the company's stock valued at $230,467,000 after acquiring an additional 112,365 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $85.05, for a total value of $850,500.00. Following the completion of the transaction, the insider owned 489,943 shares of the company's stock, valued at approximately $41,669,652.15. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 50,912 shares of the business's stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $101.40, for a total transaction of $5,162,476.80. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,095,820 shares of company stock worth $128,775,816. 13.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on HOOD shares. UBS Group reaffirmed a "buy" rating on shares of Robinhood Markets in a report on Friday, October 30th. JPMorgan Chase & Co. cut their price target on Robinhood Markets from $115.00 to $114.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 28th. Bank of America raised their price target on Robinhood Markets from $140.00 to $156.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. CICC Research lifted their price objective on Robinhood Markets from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, Raymond James Financial reiterated a "market perform" rating on shares of Robinhood Markets in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $126.45.

Robinhood Markets Price Performance

Shares of HOOD opened at $83.32 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day simple moving average of $105.55 and a 200 day simple moving average of $92.18. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $139.75. The firm has a market capitalization of $74.91 billion, a PE ratio of 38.40, a P/E/G ratio of 1.95 and a beta of 2.56.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. Robinhood Markets had a net margin of 39.04% and a return on equity of 21.49%. The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.61 earnings per share. Sell-side analysts predict that Robinhood Markets, Inc. will post 2.10 EPS for the current fiscal year.

Robinhood Markets Profile

Robinhood Markets, Inc operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services.

Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.

Robinhood also offers subscription-based services through Robinhood Gold, which provides eligible customers with additional account features.

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