Worldquant Millennium Advisors LLC Cuts Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Worldquant Millennium Advisors LLC reduced its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 57.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,838 shares of the company’s stock after selling 378,441 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Robinhood Markets were worth $6,624,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HOOD. HM Payson & Co. boosted its position in Robinhood Markets by 53.5% during the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Eastern Bank acquired a new position in shares of Robinhood Markets during the third quarter worth about $30,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets in the third quarter worth about $30,000. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $33,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,991,091 shares of company stock worth $172,716,066. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $41.67 on Friday. The stock has a market capitalization of $36.84 billion, a price-to-earnings ratio of 70.63, a price-to-earnings-growth ratio of 0.93 and a beta of 2.09. Robinhood Markets, Inc. has a 1-year low of $10.38 and a 1-year high of $42.76. The company’s fifty day moving average is $30.09 and its two-hundred day moving average is $24.36.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. Sell-side analysts expect that Robinhood Markets, Inc. will post 0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HOOD. Bank of America upped their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Barclays upped their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler upped their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Sanford C. Bernstein upped their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC upgraded shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $35.80.

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.