Prana Capital Management LP Has $8.53 Million Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Prana Capital Management LP trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 59.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,799 shares of the company's stock after selling 329,068 shares during the period. Prana Capital Management LP's holdings in Robinhood Markets were worth $8,525,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HOOD. New Wave Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $26,000. CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Robinhood Markets by 750.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Colonial Trust Co SC acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $34,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at about $37,000. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 107,608 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $60.41, for a total transaction of $6,500,599.28. Following the completion of the sale, the director now directly owns 7,863 shares in the company, valued at $475,003.83. This represents a 93.19% 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, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The disclosure for this sale can be found here. Insiders sold 1,947,622 shares of company stock worth $89,994,656 over the last three months. Insiders own 14.47% of the company's stock.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of recent research reports. KeyCorp lowered their target price on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Raymond James started coverage on Robinhood Markets in a report on Wednesday, February 5th. They set a "market perform" rating on the stock. Finally, Barclays dropped their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.41.

Robinhood Markets Stock Performance

Shares of HOOD stock traded up $1.08 during trading on Friday, hitting $61.76. The company had a trading volume of 23,851,695 shares, compared to its average volume of 26,397,656. The firm has a market capitalization of $54.69 billion, a P/E ratio of 39.34, a price-to-earnings-growth ratio of 1.05 and a beta of 2.15. The stock's 50-day moving average price is $45.27 and its 200 day moving average price is $43.54. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $66.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $927.00 million during the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. During the same quarter last year, the firm posted $0.18 earnings per share. The company's quarterly revenue was up 50.0% on a year-over-year basis. On average, research analysts anticipate 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.