Natixis Advisors LLC Sells 8,850 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Natixis Advisors LLC reduced its stake in Robinhood Markets by 23.8%, owning 28,411 shares after selling 8,850 shares in the first quarter, which were valued at approximately $1.18 million.
• Despite the reduction in holdings by some investors, Robinhood saw overall increases in shares owned by other hedge funds, with institutional investors owning 93.27% of the company's stock.
• Robinhood's quarterly earnings exceeded estimates, reporting $0.42 EPS against a consensus estimate of $0.30, with a total revenue of $989 million for the quarter.

Natixis Advisors LLC decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,411 shares of the company's stock after selling 8,850 shares during the period. Natixis Advisors LLC's holdings in Robinhood Markets were worth $1,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $588,000. Wells Fargo & Company MN boosted its holdings in shares of Robinhood Markets by 201.1% in the fourth quarter. Wells Fargo & Company MN now owns 298,990 shares of the company's stock valued at $11,140,000 after acquiring an additional 199,678 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Robinhood Markets by 80.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 252,766 shares of the company's stock valued at $9,418,000 after acquiring an additional 112,807 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Robinhood Markets by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 30,386 shares of the company's stock valued at $1,132,000 after acquiring an additional 1,356 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Robinhood Markets by 132.6% in the fourth quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock valued at $106,847,000 after acquiring an additional 1,634,599 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

HOOD has been the subject of several recent analyst reports. 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. 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. Piper Sandler raised their target price on shares of Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Needham & Company LLC raised their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, JMP Securities raised their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.29.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 385,485 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total value of $39,280,921.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,644,685 shares of company stock worth $430,085,957. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Price Performance

Robinhood Markets stock traded up $0.47 during midday trading on Tuesday, reaching $114.09. The stock had a trading volume of 31,418,771 shares, compared to its average volume of 41,767,250. The firm's fifty day simple moving average is $92.24 and its two-hundred day simple moving average is $64.62. Robinhood Markets, Inc. has a twelve month low of $18.36 and a twelve month high of $117.70. The firm has a market cap of $101.39 billion, a price-to-earnings ratio of 57.91, a PEG ratio of 4.37 and a beta of 2.36.

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