Signaturefd LLC Trims Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Signaturefd LLC trimmed its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 35.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,950 shares of the company’s stock after selling 1,641 shares during the quarter. Signaturefd LLC’s holdings in Robinhood Markets were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of HOOD. Spire Wealth Management acquired a new stake in shares of Robinhood Markets during the fourth quarter worth $26,000. PNC Financial Services Group Inc. lifted its stake in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Robinhood Markets during the second quarter worth about $45,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 1.3 %

HOOD opened at $19.11 on Thursday. The firm has a market cap of $16.79 billion, a P/E ratio of 127.40 and a beta of 1.83. The business’s fifty day simple moving average is $20.88 and its 200 day simple moving average is $19.47. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. As a group, equities analysts expect that Robinhood Markets, Inc. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Keefe, Bruyette & Woods decreased their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Barclays cut their price objective on Robinhood Markets from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, Bank of America increased their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.70.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 121,226 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $21.63, for a total transaction of $2,622,118.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Baiju Bhatt sold 121,226 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $21.63, for a total transaction of $2,622,118.38. The disclosure for this sale can be found here. In the last three months, insiders sold 922,906 shares of company stock worth $18,433,929. Insiders own 19.95% of the company’s stock.

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.