Berkshire Capital Holdings Inc. Sells 287,440 Shares of Robinhood Markets, Inc. $HOOD

Berkshire Capital Holdings Inc. lowered its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 65.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 152,640 shares of the company’s stock after selling 287,440 shares during the period. Robinhood Markets accounts for approximately 5.0% of Berkshire Capital Holdings Inc.’s holdings, making the stock its 6th biggest position. Berkshire Capital Holdings Inc.’s holdings in Robinhood Markets were worth $14,292,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HOOD. True Vision MN LLC raised its position in shares of Robinhood Markets by 1.7% during the second quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after purchasing an additional 116 shares during the period. Forum Financial Management LP boosted its position in shares of Robinhood Markets by 0.8% in the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after purchasing an additional 134 shares during the period. Hemington Wealth Management increased its stake in Robinhood Markets by 22.5% in the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company’s stock worth $72,000 after purchasing an additional 143 shares in the last quarter. Ballentine Partners LLC raised its holdings in Robinhood Markets by 2.3% during the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock worth $620,000 after buying an additional 148 shares during the period. Finally, Hantz Financial Services Inc. lifted its stake in Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after buying an additional 148 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,686,763 shares of company stock valued at $475,858,262. 14.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HOOD has been the topic of several analyst reports. Mizuho lifted their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Robinhood Markets in a research note on Friday, December 5th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Cantor Fitzgerald increased their target price on Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Loop Capital set a $161.00 price target on Robinhood Markets in a report on Monday, October 27th. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.79.

Robinhood Markets Stock Down 0.0%

Shares of NASDAQ:HOOD opened at $135.66 on Thursday. The firm has a fifty day moving average of $133.07 and a two-hundred day moving average of $111.25. The firm has a market capitalization of $121.98 billion, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 3.05 and a beta of 2.43. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

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

About Robinhood Markets

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.