Robinhood Markets, Inc. (NASDAQ:HOOD) Stake Reduced by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. reduced its stake in Robinhood Markets by 22.0% in the first quarter, owning 106,830 shares after selling 30,080 shares.
• Insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood for $22.49 million, a 27.54% decrease in his position, while CEO Vladimir Tenev sold 385,485 shares recently.
• Robinhood's stock opened at $105.46 and reported a 45.0% increase in revenue year-over-year, with earnings of $0.42 per share for the last quarter.

iA Global Asset Management Inc. lessened its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,830 shares of the company's stock after selling 30,080 shares during the quarter. iA Global Asset Management Inc.'s holdings in Robinhood Markets were worth $4,446,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. TD Private Client Wealth LLC increased its stake in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,186 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in Robinhood Markets during the first quarter worth $277,000. Burns Matteson Capital Management LLC purchased a new stake in Robinhood Markets during the first quarter worth $495,000. Fiduciary Alliance LLC purchased a new stake in Robinhood Markets during the first quarter worth $2,177,000. Finally, Invesco Ltd. boosted its holdings in Robinhood Markets by 132.6% during the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock worth $106,847,000 after buying an additional 1,634,599 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction on 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 completion of the transaction, the insider owned 228,621 shares of the company's stock, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider directly owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. This represents a 27.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,830,629 shares of company stock worth $438,930,436. Company insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $0.19 during mid-day trading on Wednesday, hitting $105.65. The company's stock had a trading volume of 32,930,766 shares, compared to its average volume of 45,839,716. Robinhood Markets, Inc. has a 52-week low of $16.68 and a 52-week high of $113.44. The stock's fifty day simple moving average is $89.38 and its two-hundred day simple moving average is $63.12. The firm has a market capitalization of $93.55 billion, a P/E ratio of 53.63, a price-to-earnings-growth ratio of 4.02 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the company earned $0.21 earnings per share. The business's quarterly revenue was up 45.0% compared to the same quarter last year. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Citigroup increased their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Finally, Mizuho increased their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Robinhood Markets Profile

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.