Mount Lucas Management LP Reduces Position in Robinhood Markets, Inc. $HOOD

Mount Lucas Management LP trimmed its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 11.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,790 shares of the company’s stock after selling 1,509 shares during the quarter. Mount Lucas Management LP’s holdings in Robinhood Markets were worth $1,104,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. HighTower Advisors LLC raised 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 acquiring an additional 3,032 shares during the last quarter. Wellington Management Group LLP increased its stake in Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after purchasing an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Robinhood Markets by 125.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock worth $799,000 after buying an additional 10,703 shares during the period. Metavasi Capital LP boosted its stake in Robinhood Markets by 275.0% in the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after buying an additional 55,000 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Robinhood Markets by 137.6% in the 1st quarter. Deutsche Bank AG now owns 1,761,767 shares of the company’s stock valued at $73,325,000 after buying an additional 1,020,286 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HOOD shares. CICC Research began coverage on shares of Robinhood Markets in a research report on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Citizens Jmp upped their price objective on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Barclays increased their target price on Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.65.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 48,350 shares of the stock in a transaction 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 transaction, the insider owned 70,279 shares in the company, valued at $9,881,930.19. This trade represents a 40.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,297,404 shares of company stock worth $529,026,559 over the last ninety days. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $122.50 on Monday. The business’s 50-day simple moving average is $132.81 and its 200 day simple moving average is $103.15. The company has a market cap of $110.15 billion, a P/E ratio of 50.83, a PEG ratio of 2.80 and a beta of 2.42. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.20. The company had revenue of $1.27 billion during 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% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.