Robinhood Markets, Inc. $HOOD Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lessened its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 29.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 915 shares of the company’s stock after selling 385 shares during the period. Anchor Investment Management LLC’s holdings in Robinhood Markets were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC raised its holdings in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management raised its holdings in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $30,000. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $33,000. Finally, CoreCap Advisors LLC raised its holdings in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after buying an additional 550 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $117.75 on Friday. The firm has a market cap of $104.64 billion, a price-to-earnings ratio of 59.77, a price-to-earnings-growth ratio of 4.30 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $20.67 and a 1 year high of $123.44. The firm’s 50 day moving average price is $105.58 and its two-hundred day moving average price is $72.98.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share. As a group, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven M. Quirk sold 92,257 shares of the business’s 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 directly owned 136,364 shares in the company, valued at $11,585,485.44. The trade was a 40.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 1,568,421 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,355,381 shares of company stock worth $539,335,586. 14.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Redburn Atlantic reissued a “sell” rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Mizuho boosted their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday. Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Finally, JMP Securities boosted their target price on Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $101.88.

Robinhood Markets 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.