Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Holdings Lessened by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 23.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,455,795 shares of the company's stock after selling 458,265 shares during the period. TimesSquare Capital Management LLC owned 0.16% of Robinhood Markets worth $60,590,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. FMR LLC grew its position in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares in the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets during the 4th quarter valued at approximately $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets during the fourth quarter worth $302,325,000. Artisan Partners Limited Partnership acquired a new position in Robinhood Markets in the fourth quarter worth $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HOOD shares. Redburn Atlantic reissued a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. The Goldman Sachs Group raised their price target on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Needham & Company LLC restated a "buy" rating and set a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. Finally, KeyCorp increased their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. One 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $79.29.

Robinhood Markets Trading Up 1.6%

NASDAQ:HOOD traded up $1.62 during midday trading on Monday, hitting $99.96. 47,151,819 shares of the stock were exchanged, compared to its average volume of 41,553,008. The company has a market capitalization of $88.51 billion, a price-to-earnings ratio of 56.80, a P/E/G ratio of 5.25 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $101.89. The business has a 50-day moving average price of $73.48 and a two-hundred day moving average price of $55.53.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The firm had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. During the same period in the prior year, the firm posted $0.18 EPS. The firm's quarterly revenue was up 50.0% on a year-over-year basis. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 92,257 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the completion of the sale, the insider directly owned 136,364 shares of the company's stock, valued at $11,585,485.44. This represents a 40.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total value of $2,347,000.00. Following the completion of the transaction, the insider owned 816,887 shares in the company, valued at $76,689,351.56. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,472,702 shares of company stock valued at $179,396,832 in the last quarter. 14.47% of the stock is owned by company insiders.

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.