Venture Visionary Partners LLC Trims Stock Position in Robinhood Markets, Inc. $HOOD

Venture Visionary Partners LLC reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 17.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,744 shares of the company’s stock after selling 21,676 shares during the quarter. Venture Visionary Partners LLC’s holdings in Robinhood Markets were worth $14,854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. Vanguard Group Inc. raised its position in Robinhood Markets by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after buying an additional 1,371,051 shares during the last quarter. State Street Corp raised its stake in shares of Robinhood Markets by 9.2% during the 2nd quarter. State Street Corp now owns 15,870,421 shares of the company’s stock worth $1,485,948,000 after buying an additional 1,341,204 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Robinhood Markets by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after purchasing an additional 507,926 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares in the last quarter. Finally, Norges Bank purchased a new stake in Robinhood Markets during the second quarter worth about $973,122,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 3.5%

HOOD opened at $115.26 on Tuesday. The firm has a market cap of $103.64 billion, a P/E ratio of 47.83, a PEG ratio of 2.40 and a beta of 2.43. The business’s fifty day simple moving average is $131.46 and its 200 day simple moving average is $112.74. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods upped their target price on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a report on Thursday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Robinhood Markets in a research note on Friday, December 5th. Bank of America dropped their target price on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, JMP Securities lifted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $136.32.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $116.56, for a total value of $48,761,477.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the firm’s stock in a transaction on 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 owned 430,012 shares in the company, valued at $56,817,485.56. This trade represents a 21.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,686,763 shares of company stock valued at $475,858,262 over the last quarter. Insiders own 19.95% of the company’s stock.

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.