Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Sold by Valliance Asset Management Ltd

Key Points

• Valliance Asset Management Ltd cut its holdings in Robinhood Markets by 79.9% during the first quarter, owning 10,065 shares worth approximately $419,000 post-sale.
• Other hedge funds, such as Whipplewood Advisors LLC, significantly increased their stakes, with Whipplewood raising its investment by 564.4% recently.
• Analysts have recently upgraded their price targets for Robinhood Markets, with Citigroup increasing its target from $50 to $100 and JMP Securities raising it to $125.

Valliance Asset Management Ltd trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 79.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,065 shares of the company's stock after selling 39,935 shares during the quarter. Robinhood Markets makes up approximately 0.9% of Valliance Asset Management Ltd's holdings, making the stock its 19th largest position. Valliance Asset Management Ltd's holdings in Robinhood Markets were worth $419,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Federated Hermes Inc. boosted its position in Robinhood Markets by 2.1% during the 1st quarter. Federated Hermes Inc. now owns 31,024 shares of the company's stock valued at $1,291,000 after acquiring an additional 638 shares in the last quarter. Ramirez Asset Management Inc. bought a new stake in Robinhood Markets during the 1st quarter valued at approximately $75,000. Foundations Investment Advisors LLC bought a new stake in Robinhood Markets during the 1st quarter valued at approximately $15,726,000. AGP Franklin LLC bought a new stake in Robinhood Markets during the 1st quarter valued at approximately $1,400,000. Finally, Norden Group LLC bought a new stake in Robinhood Markets during the 1st quarter valued at approximately $248,000. 93.27% of the stock is owned by institutional investors.

Insider Activity at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total value of $31,078,330.02. Following the completion of the transaction, the director owned 7,863 shares of the company's stock, valued at approximately $584,142.27. This trade represents a 98.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The shares were 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. In the last quarter, insiders sold 3,026,690 shares of company stock valued at $257,160,102. Insiders own 14.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Needham & Company LLC boosted their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Compass Point boosted their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Morgan Stanley boosted their price target on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $96.29.

Robinhood Markets Stock Down 3.3%

HOOD traded down $3.39 during mid-day trading on Friday, reaching $99.66. 70,721,739 shares of the company traded hands, compared to its average volume of 41,869,371. The stock has a market capitalization of $88.24 billion, a P/E ratio of 50.88, a P/E/G ratio of 5.40 and a beta of 2.36. The company's fifty day moving average price is $86.18 and its 200-day moving average price is $61.49. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.69% and a net margin of 50.13%. The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the prior year, the business posted $0.21 EPS. Robinhood Markets's revenue for the quarter was up 45.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share 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.