Nicholas Wealth LLC. Trims Stock Holdings in Robinhood Markets, Inc. $HOOD

Nicholas Wealth LLC. cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 18.8% during the second quarter, HoldingsChannel.com reports. The fund owned 21,666 shares of the company’s stock after selling 5,016 shares during the quarter. Robinhood Markets makes up 1.0% of Nicholas Wealth LLC.’s holdings, making the stock its 20th largest position. Nicholas Wealth LLC.’s holdings in Robinhood Markets were worth $2,029,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. grew its position in Robinhood Markets by 120.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares during the last quarter. Hemington Wealth Management boosted its stake in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the period. Smithfield Trust Co purchased a new position in shares of Robinhood Markets during the second quarter worth about $29,000. Pandora Wealth Inc. acquired a new position in Robinhood Markets in the 1st quarter valued at about $33,000. Finally, V Square Quantitative Management LLC purchased a new stake in Robinhood Markets during the 2nd quarter valued at approximately $36,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $146.91, for a total transaction of $861,480.24. Following the sale, the chief technology officer directly owned 6,088 shares in the company, valued at approximately $894,388.08. The trade was a 49.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,297,404 shares of company stock worth $529,026,559. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Down 1.4%

NASDAQ:HOOD opened at $114.30 on Wednesday. The firm’s fifty day simple moving average is $132.70 and its 200-day simple moving average is $104.10. The stock has a market cap of $102.78 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 2.59 and a beta of 2.42. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS 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 during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 100.0% compared to the same quarter last year. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

HOOD has been the topic of several analyst reports. Dbs Bank upgraded Robinhood Markets to a “moderate buy” rating in a research note 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 research report on Thursday, November 6th. KeyCorp boosted their price objective on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Cantor Fitzgerald raised their target price on shares of Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, JMP Securities lifted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Fifteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.65.

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.