Robinhood Markets, Inc. $HOOD Shares Sold by Westmount Partners LLC

Westmount Partners LLC lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 47.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,920 shares of the company’s stock after selling 26,461 shares during the quarter. Robinhood Markets comprises about 0.7% of Westmount Partners LLC’s holdings, making the stock its 26th largest position. Westmount Partners LLC’s holdings in Robinhood Markets were worth $2,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Reyes Financial Architecture Inc. grew its holdings in shares of Robinhood Markets by 546.6% during the second quarter. Reyes Financial Architecture Inc. now owns 2,625 shares of the company’s stock worth $246,000 after buying an additional 2,219 shares during the last quarter. Amanah Holdings Trust purchased a new position in shares of Robinhood Markets during the second quarter worth about $30,689,000. Parallel Advisors LLC grew its holdings in shares of Robinhood Markets by 14.1% during the second quarter. Parallel Advisors LLC now owns 4,333 shares of the company’s stock worth $406,000 after buying an additional 535 shares during the last quarter. Teamwork Financial Advisors LLC grew its holdings in shares of Robinhood Markets by 145.4% during the second quarter. Teamwork Financial Advisors LLC now owns 53,906 shares of the company’s stock worth $5,047,000 after buying an additional 31,942 shares during the last quarter. Finally, Wesbanco Bank Inc. purchased a new position in shares of Robinhood Markets during the second quarter worth about $431,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total value of $2,523,000.00. Following the completion of the sale, the insider directly owned 610,949 shares of the company’s stock, valued at approximately $61,656,973.08. The trade was a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the sale, the director directly owned 3,976,234 shares of the company’s stock, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,773,719 shares of company stock worth $589,293,510 in the last three months. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays raised their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. KeyCorp boosted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. JMP Securities raised their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Finally, Needham & Company LLC raised their price target on Robinhood Markets from $71.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.88.

Robinhood Markets Stock Performance

HOOD stock opened at $114.83 on Tuesday. The stock has a market capitalization of $102.05 billion, a P/E ratio of 58.29, a PEG ratio of 4.11 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $21.50 and a one year high of $123.44. The company has a 50 day moving average price of $106.42 and a two-hundred day moving average price of $74.26.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.