Robinhood Markets, Inc. $HOOD Stake Trimmed by Steadview Capital Management LLC

Steadview Capital Management LLC trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,567,220 shares of the company’s stock after selling 520,430 shares during the period. Robinhood Markets accounts for approximately 32.2% of Steadview Capital Management LLC’s portfolio, making the stock its largest holding. Steadview Capital Management LLC owned 0.18% of Robinhood Markets worth $224,395,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HOOD. WCM Investment Management LLC raised 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 acquiring an additional 11,244,182 shares during the period. Norges Bank purchased a new position in shares of Robinhood Markets in the second quarter valued at $973,122,000. Paradigm Operations LP bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at $308,979,000. Invesco Ltd. lifted its holdings in Robinhood Markets by 81.0% during the 2nd quarter. Invesco Ltd. now owns 4,942,533 shares of the company’s stock worth $462,769,000 after purchasing an additional 2,212,487 shares in the last quarter. Finally, Amundi boosted its stake in Robinhood Markets by 62.3% in the 2nd quarter. Amundi now owns 4,151,865 shares of the company’s stock worth $406,800,000 after purchasing an additional 1,594,282 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Monday, January 5th. Mizuho raised their price target on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. JMP Securities upped their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, October 9th. Finally, Loop Capital set a $152.00 price objective on Robinhood Markets in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $136.62.

Insider Buying and Selling at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $121.59, for a total transaction of $713,003.76. Following the sale, the chief technology officer owned 14,997 shares of the company’s stock, valued at $1,823,485.23. The trade was a 28.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.58, for a total value of $1,215,800.00. Following the completion of the sale, the insider owned 403,612 shares in the company, valued at $49,071,146.96. The trade was a 2.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,878,425 shares of company stock worth $358,332,025. Insiders own 14.47% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $106.25 on Friday. The business’s 50 day simple moving average is $119.26 and its two-hundred day simple moving average is $119.41. The stock has a market capitalization of $95.54 billion, a P/E ratio of 44.09, a price-to-earnings-growth ratio of 1.66 and a beta of 2.44. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

About Robinhood Markets

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.