Robinhood Markets, Inc. $HOOD Shares Sold by Main Street Research LLC

Main Street Research LLC lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 532,399 shares of the company’s stock after selling 6,906 shares during the period. Robinhood Markets accounts for approximately 3.4% of Main Street Research LLC’s holdings, making the stock its 12th biggest position. Main Street Research LLC’s holdings in Robinhood Markets were worth $60,214,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in HOOD. Empowered Funds LLC lifted its stake in shares of Robinhood Markets by 46.7% in the 1st quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after acquiring an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Robinhood Markets in the 2nd quarter worth $5,105,000. Federated Hermes Inc. lifted its stake in shares of Robinhood Markets by 106.2% in the 2nd quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock worth $5,988,000 after acquiring an additional 32,933 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Robinhood Markets by 19.1% in the 2nd quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock worth $8,396,000 after acquiring an additional 14,356 shares during the period. Finally, Nebula Research & Development LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter worth $1,316,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 8,540 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $84.93, for a total transaction of $725,302.20. Following the completion of the transaction, the insider directly owned 53,183 shares in the company, valued at approximately $4,516,832.19. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $75.38, for a total transaction of $5,082,270.36. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 560,765 shares of company stock worth $40,946,840 in the last three months. Company insiders own 14.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on HOOD. Barclays reduced their target price on shares of Robinhood Markets from $89.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods reduced their target price on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Loop Capital set a $130.00 target price on shares of Robinhood Markets in a research note on Monday, February 9th. JPMorgan Chase & Co. cut their price target on shares of Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $130.00 price target on shares of Robinhood Markets in a report on Tuesday, April 14th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.88.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $73.64 on Monday. The firm has a 50-day moving average price of $76.11 and a two-hundred day moving average price of $96.12. Robinhood Markets, Inc. has a twelve month low of $62.63 and a twelve month high of $153.86. The company has a market capitalization of $66.31 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 2.39 and a beta of 2.29.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted $0.37 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.95 earnings per share for the current year.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.