Steadview Capital Management LLC Decreases Holdings in Robinhood Markets, Inc. $HOOD

Steadview Capital Management LLC trimmed its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 27.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,138,330 shares of the company’s stock after selling 428,890 shares during the period. Robinhood Markets comprises approximately 24.2% of Steadview Capital Management LLC’s holdings, making the stock its largest holding. Steadview Capital Management LLC’s holdings in Robinhood Markets were worth $128,745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Command Advisory Services Inc. boosted its position in shares of Robinhood Markets by 33.8% in the 3rd quarter. First Command Advisory Services Inc. now owns 321 shares of the company’s stock worth $46,000 after purchasing an additional 81 shares during the last quarter. Evolution Wealth Advisors LLC boosted its position in shares of Robinhood Markets by 5.2% in the 4th quarter. Evolution Wealth Advisors LLC now owns 1,916 shares of the company’s stock worth $217,000 after purchasing an additional 95 shares during the last quarter. CogentBlue Wealth Advisors LLC boosted its position in shares of Robinhood Markets by 4.1% in the 4th quarter. CogentBlue Wealth Advisors LLC now owns 2,489 shares of the company’s stock worth $282,000 after purchasing an additional 98 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Robinhood Markets by 107.6% in the 3rd quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Finally, Vision Financial Markets LLC boosted its position in shares of Robinhood Markets by 100.0% in the 3rd quarter. Vision Financial Markets LLC now owns 200 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 8,540 shares of Robinhood Markets stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $84.93, for a total value of $725,302.20. Following the sale, the insider owned 53,183 shares of the company’s stock, valued at $4,516,832.19. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.89, for a total value of $768,900.00. Following the completion of the sale, the insider directly owned 432,849 shares in the company, valued at $33,281,759.61. This represents a 2.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 560,765 shares of company stock valued at $40,946,840. Company insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Friday, March 27th. Zacks Research lowered Robinhood Markets from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 8th. Piper Sandler reduced their price target on Robinhood Markets from $155.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. JPMorgan Chase & Co. reduced their price target on Robinhood Markets from $113.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.88.

Robinhood Markets Trading Down 3.0%

HOOD stock opened at $73.64 on Friday. The business’s 50-day moving average price is $76.11 and its two-hundred day moving average price is $96.47. The firm has a market cap of $66.31 billion, a PE ratio of 35.58, a P/E/G ratio of 2.46 and a beta of 2.29. Robinhood Markets, Inc. has a 1-year low of $62.63 and a 1-year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Tuesday, April 28th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, analysts forecast that Robinhood Markets, Inc. will post 1.88 earnings per share for the current year.

Robinhood Markets 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.