Senator Investment Group LP Sells 287,186 Shares of Robinhood Markets, Inc. $HOOD

Key Points

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Senator Investment Group LP cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 16.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,494,819 shares of the company's stock after selling 287,186 shares during the period. Robinhood Markets makes up approximately 3.3% of Senator Investment Group LP's investment portfolio, making the stock its 7th largest position. Senator Investment Group LP owned about 0.17% of Robinhood Markets worth $62,214,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Townsquare Capital LLC acquired a new stake in Robinhood Markets during the fourth quarter worth about $377,000. GeoWealth Management LLC acquired a new stake in Robinhood Markets during the fourth quarter worth about $53,000. First Trust Advisors LP grew its stake in Robinhood Markets by 35.9% during the fourth quarter. First Trust Advisors LP now owns 964,836 shares of the company's stock worth $35,950,000 after buying an additional 254,817 shares in the last quarter. MetLife Investment Management LLC grew its stake in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after buying an additional 171 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in Robinhood Markets by 4.3% during the fourth quarter. MML Investors Services LLC now owns 54,052 shares of the company's stock worth $2,014,000 after buying an additional 2,213 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $115.02 on Tuesday. The company has a 50 day simple moving average of $96.19 and a 200 day simple moving average of $66.79. The firm has a market cap of $102.21 billion, a PE ratio of 58.39, a price-to-earnings-growth ratio of 4.35 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $18.71 and a 1 year high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data 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 business 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 firm's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the business earned $0.21 EPS. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,644,685 shares of company stock worth $448,881,884 in the last 90 days. 19.95% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Morgan Stanley raised their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Barclays raised their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Company 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.

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