Belpointe Asset Management LLC Decreases Stock Holdings in Robinhood Markets, Inc. $HOOD

Belpointe Asset Management LLC lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 35.9% during the 3rd quarter, Holdings Channel reports. The firm owned 14,184 shares of the company’s stock after selling 7,942 shares during the period. Belpointe Asset Management LLC’s holdings in Robinhood Markets were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its position 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 during the period. Valley National Advisers Inc. grew its position in shares of Robinhood Markets by 113.6% during the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Smithfield Trust Co bought a new position in shares of Robinhood Markets during the 2nd quarter valued at approximately $29,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $34,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter worth approximately $36,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 1.6%

Shares of NASDAQ HOOD opened at $105.24 on Wednesday. The company has a market cap of $94.63 billion, a P/E ratio of 43.67, a P/E/G ratio of 1.67 and a beta of 2.44. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The business has a 50-day simple moving average of $118.59 and a two-hundred day simple moving average of $119.98.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The firm 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%. The company’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Compass Point reissued a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday, January 5th. Argus assumed coverage on Robinhood Markets in a report on Friday, January 9th. They issued a “buy” rating and a $145.00 price objective for the company. Barclays lowered their price objective on Robinhood Markets from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Finally, Loop Capital set a $152.00 target price on shares of Robinhood Markets in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.62.

Insider Activity

In related news, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction on Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the business’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 transaction, the insider owned 430,012 shares of the company’s stock, valued at approximately $56,817,485.56. The trade was a 21.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,872,561 shares of company stock valued at $357,470,545 in the last quarter. 19.95% of the stock is currently owned by company insiders.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.