Y Intercept Hong Kong Ltd Reduces Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Y Intercept Hong Kong Ltd has significantly reduced its stake in Robinhood Markets by 92.4%, selling 95,707 shares and now holding only 7,838 shares valued at $326,000.
• Robinhood Markets reported $0.37 EPS for the quarter, missing analyst expectations of $0.41, while their revenue increased by 50% year-over-year.
• A number of analysts have recently upgraded their price targets for Robinhood Markets, with Barclays setting the target at $102.00 and Mizuho at $99.00, indicating increased confidence in the stock's future performance.

Y Intercept Hong Kong Ltd lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 92.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,838 shares of the company's stock after selling 95,707 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Robinhood Markets were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its stake in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Price T Rowe Associates Inc. MD increased its holdings 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 worth $193,202,000 after buying an additional 3,994,745 shares during the last quarter. Wealthquest Corp bought a new stake in Robinhood Markets in the first quarter worth about $156,193,000. AQR Capital Management LLC boosted its stake in Robinhood Markets by 231.9% in the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after acquiring an additional 3,673,861 shares during the last quarter. Finally, Southpoint Capital Advisors LP bought a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $130,410,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HOOD has been the topic of a number of research reports. KeyCorp lifted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Compass Point upped their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Cantor Fitzgerald lifted their price objective on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. JMP Securities upped their price objective on shares of Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.29.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 92,257 shares of the stock in a transaction 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 transaction, the insider owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 385,485 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,026,690 shares of company stock worth $257,160,102 over the last ninety days. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Stock Up 2.7%

Shares of HOOD stock traded up $2.78 during trading on Wednesday, hitting $106.10. The company had a trading volume of 38,487,292 shares, compared to its average volume of 47,050,172. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $113.44. The stock has a market capitalization of $93.95 billion, a price-to-earnings ratio of 60.28, a price-to-earnings-growth ratio of 5.26 and a beta of 2.36. The stock's 50-day moving average is $85.42 and its two-hundred day moving average is $61.05.

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, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. During the same quarter in the previous year, the company posted $0.21 EPS. The business's quarterly revenue was up 45.0% on a year-over-year basis. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.