Vivid Wealth Management LLC Reduces Stock Holdings in Robinhood Markets, Inc. $HOOD

Vivid Wealth Management LLC lessened its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 29.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,601 shares of the company’s stock after selling 10,263 shares during the quarter. Robinhood Markets makes up about 1.4% of Vivid Wealth Management LLC’s holdings, making the stock its 14th largest position. Vivid Wealth Management LLC’s holdings in Robinhood Markets were worth $3,522,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.58, for a total transaction of $1,215,800.00. Following the completion of the sale, the insider directly owned 403,612 shares in the company, valued at $49,071,146.96. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.59, for a total value of $713,003.76. Following the completion of the transaction, the chief technology officer owned 14,997 shares in the company, valued at approximately $1,823,485.23. This trade represents a 28.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,296,763 shares of company stock worth $414,016,996. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $117.52 on Tuesday. The firm’s 50-day simple moving average is $122.72 and its 200-day simple moving average is $118.76. Robinhood Markets, Inc. has a 1-year low of $29.66 and a 1-year high of $153.86. The firm has a market cap of $105.67 billion, a P/E ratio of 48.76, a PEG ratio of 1.75 and a beta of 2.44.

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 firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. Robinhood Markets’s revenue was up 100.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. Analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HOOD. JMP Securities upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Compass Point restated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Mizuho boosted their price objective on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Needham & Company LLC decreased their target price on shares of Robinhood Markets from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.62.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.