Cerity Partners LLC Reduces Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Cerity Partners LLC cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 755,457 shares of the company's stock after selling 6,430 shares during the quarter. Cerity Partners LLC owned 0.09% of Robinhood Markets worth $31,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HOOD. Jones Financial Companies Lllp lifted its position in shares of Robinhood Markets by 1,631.5% during the 4th quarter. Jones Financial Companies Lllp now owns 3,463 shares of the company's stock valued at $129,000 after buying an additional 3,263 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Robinhood Markets by 87.6% in the 4th quarter. Victory Capital Management Inc. now owns 220,160 shares of the company's stock valued at $8,203,000 after purchasing an additional 102,777 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Robinhood Markets in the 4th quarter valued at $2,367,000. Independent Advisor Alliance purchased a new position in Robinhood Markets in the 4th quarter valued at $268,000. Finally, HighTower Advisors LLC lifted its holdings in Robinhood Markets by 57.6% in the 4th quarter. HighTower Advisors LLC now owns 47,232 shares of the company's stock valued at $1,760,000 after purchasing an additional 17,264 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 1.0%

Shares of Robinhood Markets stock traded up $0.99 during trading hours on Tuesday, reaching $100.95. 26,358,301 shares of the company's stock were exchanged, compared to its average volume of 30,401,355. The stock has a market cap of $89.39 billion, a P/E ratio of 57.28, a P/E/G ratio of 5.25 and a beta of 2.36. The company has a 50 day moving average of $74.52 and a two-hundred day moving average of $55.96. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $101.89.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The business had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group lifted their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. KeyCorp lifted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Cantor Fitzgerald lifted their price target on shares of Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Compass Point raised their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $85.29.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,472,702 shares of company stock worth $179,396,832 in the last 90 days. Insiders own 14.47% of the company's stock.

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.