Fiduciary Alliance LLC Lowers Stock Position in Robinhood Markets, Inc. $HOOD

Fiduciary Alliance LLC cut its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 11.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,561 shares of the company’s stock after selling 13,758 shares during the period. Robinhood Markets makes up 1.0% of Fiduciary Alliance LLC’s holdings, making the stock its 19th biggest holding. Fiduciary Alliance LLC’s holdings in Robinhood Markets were worth $14,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the stock. HighTower Advisors LLC increased its holdings in Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after purchasing an additional 3,032 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Robinhood Markets by 56.1% during the first quarter. Kovitz Investment Group Partners LLC now owns 23,763 shares of the company’s stock worth $989,000 after buying an additional 8,542 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Robinhood Markets by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315,500 shares of the company’s stock valued at $138,005,000 after buying an additional 21,574 shares in the last quarter. Aberdeen Group plc purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at $765,000. Finally, American Century Companies Inc. lifted its stake in Robinhood Markets by 18.8% during the 1st quarter. American Century Companies Inc. now owns 108,053 shares of the company’s stock worth $4,497,000 after acquiring an additional 17,131 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 49,942 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total value of $6,549,893.30. Following the transaction, the insider owned 54,496 shares in the company, valued at approximately $7,147,150.40. This represents a 47.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $132.13, for a total value of $15,855,600.00. Following the sale, the insider directly owned 430,012 shares in the company, valued at $56,817,485.56. This trade represents a 21.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,686,763 shares of company stock valued at $475,858,262. 14.47% of the stock is owned by insiders.

Robinhood Markets Stock Down 3.0%

NASDAQ HOOD opened at $115.80 on Thursday. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The firm has a 50 day moving average of $130.25 and a two-hundred day moving average of $113.14. The stock has a market capitalization of $104.13 billion, a PE ratio of 48.05, a price-to-earnings-growth ratio of 2.40 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 52.19% and a return on equity of 21.74%. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Mizuho lifted their price objective on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Cantor Fitzgerald cut their target price on shares of Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating on the stock in a research note on Thursday, December 11th. JMP Securities raised their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Finally, Citizens Jmp boosted their price target on shares of Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $137.25.

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.