Silvant Capital Management LLC Has $6.08 Million Stock Position in Robinhood Markets, Inc. $HOOD

Silvant Capital Management LLC cut its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,947 shares of the company’s stock after selling 23,146 shares during the period. Silvant Capital Management LLC’s holdings in Robinhood Markets were worth $6,081,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HOOD. Avantax Advisory Services Inc. boosted its holdings in shares of Robinhood Markets by 29.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 24,799 shares of the company’s stock worth $1,032,000 after acquiring an additional 5,678 shares in the last quarter. Cetera Investment Advisers raised its position in Robinhood Markets by 169.8% in the 1st quarter. Cetera Investment Advisers now owns 279,360 shares of the company’s stock valued at $11,627,000 after purchasing an additional 175,809 shares during the last quarter. LPL Financial LLC boosted its stake in Robinhood Markets by 58.8% in the first quarter. LPL Financial LLC now owns 478,131 shares of the company’s stock worth $19,900,000 after purchasing an additional 176,995 shares in the last quarter. Norden Group LLC acquired a new position in Robinhood Markets in the first quarter worth $248,000. Finally, Federated Hermes Inc. grew its holdings in shares of Robinhood Markets by 2.1% during the first quarter. Federated Hermes Inc. now owns 31,024 shares of the company’s stock worth $1,291,000 after purchasing an additional 638 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 10.9%

HOOD stock opened at $128.20 on Friday. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company has a market cap of $115.28 billion, a P/E ratio of 53.20, a price-to-earnings-growth ratio of 2.88 and a beta of 2.42. The business’s fifty day moving average is $132.63 and its 200-day moving average is $106.56.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned $0.17 earnings per share. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $146.91, for a total value of $861,480.24. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Monday, November 17th. The stock was sold at an average price of $116.56, for a total transaction of $48,761,477.28. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,970,272 shares of company stock valued at $505,742,993. Insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Robinhood Markets in a report on Wednesday. Morgan Stanley upped their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Bank of America raised their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Finally, Mizuho increased their price objective on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. 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 company. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $136.95.

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.