TimesSquare Capital Management LLC Sells 424,542 Shares of Robinhood Markets, Inc. $HOOD

TimesSquare Capital Management LLC decreased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 29.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,031,253 shares of the company’s stock after selling 424,542 shares during the period. Robinhood Markets accounts for about 1.4% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. TimesSquare Capital Management LLC’s holdings in Robinhood Markets were worth $96,556,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HOOD. Envestnet Asset Management Inc. increased its stake in Robinhood Markets by 30.0% in the first quarter. Envestnet Asset Management Inc. now owns 328,511 shares of the company’s stock valued at $13,673,000 after purchasing an additional 75,745 shares in the last quarter. Allworth Financial LP grew its stake in Robinhood Markets by 23.4% in the first quarter. Allworth Financial LP now owns 1,401 shares of the company’s stock valued at $58,000 after acquiring an additional 266 shares during the period. Xponance Inc. increased its holdings in shares of Robinhood Markets by 8.3% during the first quarter. Xponance Inc. now owns 67,369 shares of the company’s stock valued at $2,804,000 after acquiring an additional 5,142 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of Robinhood Markets in the 1st quarter worth $270,000. Finally, Arizona State Retirement System lifted its holdings in shares of Robinhood Markets by 14.1% in the 1st quarter. Arizona State Retirement System now owns 177,032 shares of the company’s stock worth $7,368,000 after purchasing an additional 21,924 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent research reports. Needham & Company LLC boosted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Citigroup upped their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Cantor Fitzgerald raised their price target on shares of Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Loop Capital set a $161.00 price objective on Robinhood Markets in a 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.65.

Robinhood Markets Stock Down 2.9%

HOOD stock opened at $131.93 on Wednesday. The firm has a market cap of $117.24 billion, a PE ratio of 54.74, a P/E/G ratio of 3.17 and a beta of 2.42. The business has a 50 day moving average of $131.37 and a 200-day moving average of $101.53. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $0.17 earnings per share. Robinhood Markets’s quarterly revenue was up 100.0% compared to the same quarter last year. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,330,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $128.47, for a total value of $170,865,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $145.95, for a total transaction of $3,648,750.00. Following the sale, the insider owned 540,949 shares of the company’s stock, valued at approximately $78,951,506.55. The trade was a 4.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,715,742 shares of company stock valued at $574,788,553 in the last three months. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Company 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.