Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Entropy Technologies LP

Entropy Technologies LP decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 70.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,886 shares of the company's stock after selling 45,152 shares during the quarter. Entropy Technologies LP's holdings in Robinhood Markets were worth $786,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TD Private Client Wealth LLC boosted its holdings in shares of Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after purchasing an additional 1,186 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth $277,000. Burns Matteson Capital Management LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth $495,000. Fiduciary Alliance LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth $2,177,000. Finally, Deutsche Bank AG boosted its holdings in shares of Robinhood Markets by 137.6% during the first quarter. Deutsche Bank AG now owns 1,761,767 shares of the company's stock worth $73,325,000 after purchasing an additional 1,020,286 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated 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 sale, the insider directly owned 566,887 shares of the company's stock, valued at approximately $59,086,632.01. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 40,131 shares of Robinhood Markets stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total value of $4,202,117.01. Following the sale, the insider directly owned 120,408 shares in the company, valued at approximately $12,607,921.68. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,644,685 shares of company stock valued at $430,085,957. Company insiders own 19.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HOOD shares. JMP Securities raised their price objective on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Cantor Fitzgerald lifted their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Finally, Piper Sandler lifted their target price on Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $114.09 on Wednesday. The business's 50-day moving average is $93.08 and its two-hundred day moving average is $64.97. Robinhood Markets, Inc. has a 12 month low of $18.36 and a 12 month high of $117.70. The firm has a market capitalization of $101.39 billion, a PE ratio of 57.91, a price-to-earnings-growth ratio of 4.33 and a beta of 2.36.

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

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