Intech Investment Management LLC Reduces Stake in Robinhood Markets, Inc. $HOOD

by · The Markets Daily

Intech Investment Management LLC trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 34.4% during the second quarter, Holdings Channel reports. The firm owned 205,683 shares of the company’s stock after selling 108,086 shares during the quarter. Intech Investment Management LLC’s holdings in Robinhood Markets were worth $19,258,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cetera Investment Advisers boosted its position in shares of Robinhood Markets by 44.5% in the 2nd quarter. Cetera Investment Advisers now owns 403,547 shares of the company’s stock worth $37,784,000 after buying an additional 124,187 shares in the last quarter. Creative Planning grew its holdings in Robinhood Markets by 39.1% during the 2nd quarter. Creative Planning now owns 100,214 shares of the company’s stock valued at $9,383,000 after buying an additional 28,195 shares during the last quarter. SG Americas Securities LLC increased its position in Robinhood Markets by 190.5% during the second quarter. SG Americas Securities LLC now owns 277,035 shares of the company’s stock worth $25,939,000 after buying an additional 181,667 shares in the last quarter. Meridian Wealth Management LLC raised its holdings in shares of Robinhood Markets by 6.2% in the second quarter. Meridian Wealth Management LLC now owns 231,591 shares of the company’s stock worth $21,684,000 after acquiring an additional 13,567 shares during the last quarter. Finally, Opinicus Capital Inc. purchased a new stake in shares of Robinhood Markets in the second quarter valued at $212,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $145.95, for a total value of $3,648,750.00. Following the transaction, the insider owned 540,949 shares in the company, valued at approximately $78,951,506.55. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $146.91, for a total transaction of $861,480.24. Following the transaction, the chief technology officer directly owned 6,088 shares in the company, valued at approximately $894,388.08. This trade represents a 49.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 4,297,404 shares of company stock worth $529,026,559. Insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Robinhood Markets in a report on Thursday. Barclays raised their target price on shares of Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Needham & Company LLC boosted their price target on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. The Goldman Sachs Group raised their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average target price of $132.65.

Read Our Latest Report on HOOD

Robinhood Markets Stock Up 0.8%

HOOD stock opened at $122.50 on Friday. The company has a market cap of $110.15 billion, a price-to-earnings ratio of 50.83, a PEG ratio of 2.78 and a beta of 2.42. The business has a fifty day simple moving average of $132.81 and a 200-day simple moving average of $102.40. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Robinhood Markets Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report).