Teza Capital Management LLC Trims Position in Robinhood Markets, Inc. $HOOD

Key Points

• Teza Capital Management LLC has reduced its stake in Robinhood Markets by 60.7%, holding now 21,568 shares worth approximately $898,000.
• Vanguard Group Inc. increased its holdings in Robinhood Markets by 8.6% during the first quarter, now owning 74,241,080 shares valued at over $3 billion.
• Robinhood reported $0.42 earnings per share for the last quarter, exceeding expectations and showing a 45% year-over-year revenue growth at $989 million.

Teza Capital Management LLC cut its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 60.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,568 shares of the company's stock after selling 33,270 shares during the quarter. Teza Capital Management LLC's holdings in Robinhood Markets were worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. Newlands Management Operations LLC boosted its position in shares of Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after purchasing an additional 273,860 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after purchasing an additional 52,700 shares in the last quarter. AGF Management Ltd. boosted its position in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Robinhood Markets by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after purchasing an additional 131,620 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $101.25 on Friday. The company has a market cap of $89.98 billion, a P/E ratio of 51.40, a PEG ratio of 3.71 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. The stock's fifty day moving average price is $103.72 and its 200-day moving average price is $71.31.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly 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 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 company's quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 92,257 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the transaction, the insider directly owned 136,364 shares in the company, valued at approximately $11,585,485.44. This represents a 40.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,767,854 shares of company stock valued at $569,828,413. Corporate insiders own 14.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Needham & Company LLC lifted their price target on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley boosted their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. KeyCorp boosted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Barclays boosted their target price on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group boosted their target price on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

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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