Intech Investment Management LLC Sells 8,966 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Intech Investment Management LLC decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 31.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,853 shares of the company’s stock after selling 8,966 shares during the quarter. Intech Investment Management LLC’s holdings in Robinhood Markets were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Commerce Bank lifted its holdings in shares of Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after acquiring an additional 917 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Robinhood Markets by 245.5% in the fourth quarter. Hsbc Holdings PLC now owns 233,289 shares of the company’s stock worth $2,955,000 after purchasing an additional 165,772 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Robinhood Markets by 8.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 317,018 shares of the company’s stock valued at $4,039,000 after buying an additional 25,445 shares during the period. Evoke Wealth LLC bought a new position in shares of Robinhood Markets during the fourth quarter valued at about $138,000. Finally, California State Teachers Retirement System increased its holdings in shares of Robinhood Markets by 6.3% in the fourth quarter. California State Teachers Retirement System now owns 705,551 shares of the company’s stock worth $8,989,000 after buying an additional 41,792 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HOOD. The Goldman Sachs Group raised their price target on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Bank of America raised their target price on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target for the company in a research report on Wednesday, June 26th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.10.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the transaction, the insider now directly owns 956,247 shares in the company, valued at $21,802,431.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now directly owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 120,236 shares of Robinhood Markets stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $22.20, for a total value of $2,669,239.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,204,096 shares of company stock worth $23,603,793. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Up 0.2 %

NASDAQ HOOD opened at $22.43 on Friday. The firm has a market capitalization of $19.71 billion, a PE ratio of 149.53 and a beta of 1.82. The stock’s 50 day moving average is $20.48 and its 200 day moving average is $20.12. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The firm 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 company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. On average, research analysts anticipate that Robinhood Markets, Inc. will post 0.76 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.