Versant Capital Management Inc Sells 10,973 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Versant Capital Management Inc sold 10,973 shares of Robinhood Markets, reducing its holdings by 46.4% during the second quarter.
• Robinhood reported a 45.0% increase in revenue year-over-year, reaching $989 million and beating analyst expectations.
• Insider activity included Director Meyer Malka selling over 1 million shares valued at approximately $113.56 million, which represents a 21.57% decrease in his ownership.

Versant Capital Management Inc lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 46.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,661 shares of the company's stock after selling 10,973 shares during the period. Versant Capital Management Inc's holdings in Robinhood Markets were worth $1,185,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 8.6% in 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 during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Robinhood Markets by 0.5% in 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. grew its holdings in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Robinhood Markets by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after buying an additional 131,620 shares during the period. Finally, Northern Trust Corp raised its holdings in Robinhood Markets by 4.2% during the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock worth $169,035,000 after buying an additional 163,823 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Compass Point upped their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. JMP Securities upped their price target on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Barclays increased their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, KeyCorp increased their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $101.88.

Robinhood Markets Stock Down 0.2%

Shares of HOOD stock traded down $0.20 during trading hours on Monday, hitting $114.83. 36,667,007 shares of the company's stock traded hands, compared to its average volume of 41,692,191. Robinhood Markets, Inc. has a 12 month low of $21.50 and a 12 month high of $123.44. The stock's 50 day simple moving average is $105.99 and its 200 day simple moving average is $73.80. The stock has a market cap of $102.05 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 4.11 and a beta of 2.36.

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

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $99.83, for a total transaction of $585,502.95. Following the completion of the sale, the chief technology officer directly owned 23,680 shares of the company's stock, valued at $2,363,974.40. The trade was a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total value of $2,523,000.00. Following the completion of the transaction, the insider owned 610,949 shares in the company, valued at $61,656,973.08. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,773,719 shares of company stock valued at $589,293,510. 19.95% of the stock is currently owned by corporate 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.