Shikiar Asset Management Inc. Cuts Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Shikiar Asset Management Inc. has reduced its holdings in Robinhood Markets, Inc. by 19.3%, now owning 15,631 shares valued at approximately $1.46 million.
• Insider activity includes director Baiju Bhatt selling over 418,000 shares for nearly $50 million and CTO Jeffrey Tsvi Pinner reducing his stake by nearly 33%.
• Robinhood's stock is performing well, currently priced at $152.46 with a market capitalization of $135.49 billion, showing a substantial increase in revenue compared to the previous year.

Shikiar Asset Management Inc. decreased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 19.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,631 shares of the company's stock after selling 3,728 shares during the period. Shikiar Asset Management Inc.'s holdings in Robinhood Markets were worth $1,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets during the second quarter valued at $36,000. REAP Financial Group LLC lifted its stake in Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company's stock valued at $49,000 after acquiring an additional 160 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $56,000. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the first quarter valued at approximately $30,000. 93.27% of the stock is owned by institutional investors.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $147.53, for a total transaction of $865,115.92. Following the sale, the chief technology officer owned 11,952 shares in the company, valued at $1,763,278.56. The trade was a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681,122 shares of company stock worth $618,215,681 in the last 90 days. Insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $152.46 on Friday. The stock has a 50-day simple moving average of $117.92 and a two-hundred day simple moving average of $85.18. The firm has a market capitalization of $135.49 billion, a PE ratio of 77.39, a P/E/G ratio of 4.19 and a beta of 2.42. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86.

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

Analysts Set New Price Targets

HOOD has been the subject of a number of research reports. Morgan Stanley increased their price target on Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Citigroup upped their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Tuesday, September 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Robinhood Markets in a research report on Wednesday. Mizuho boosted their price target on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Finally, The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.94.

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.

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