Edgestream Partners L.P. Lowers Stock Holdings in Robinhood Markets, Inc. $HOOD

Edgestream Partners L.P. cut its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 50.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,889 shares of the company’s stock after selling 59,361 shares during the quarter. Edgestream Partners L.P.’s holdings in Robinhood Markets were worth $5,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its stake in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares during the period. Hemington Wealth Management lifted its holdings in 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 purchasing an additional 218 shares in the last quarter. Smithfield Trust Co acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $29,000. Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $33,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets during the second quarter worth about $36,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, insider Steven M. Quirk sold 48,350 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the sale, the insider owned 70,279 shares of the company’s stock, valued at approximately $9,881,930.19. The trade was a 40.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,935,159 shares of company stock valued at $503,220,491. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 2.2%

Shares of NASDAQ:HOOD opened at $125.95 on Wednesday. The business has a fifty day moving average of $132.67 and a two-hundred day moving average of $108.58. The stock has a market cap of $113.25 billion, a P/E ratio of 52.26, a PEG ratio of 2.77 and a beta of 2.43. Robinhood Markets, Inc. has a 52-week low of $29.66 and a 52-week high of $153.86.

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

Analyst Ratings Changes

Several research firms recently issued reports on HOOD. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Robinhood Markets in a research report on Wednesday, November 26th. Morgan Stanley lifted their price target on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Citizens Jmp increased their price objective on Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Finally, Mizuho raised their price objective on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.95.

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.