Interchange Capital Partners LLC Has $1.01 Million Stock Position in Robinhood Markets, Inc. $HOOD

Interchange Capital Partners LLC reduced its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 13.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,481 shares of the company’s stock after selling 1,624 shares during the quarter. Interchange Capital Partners LLC’s holdings in Robinhood Markets were worth $1,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. V Square Quantitative Management LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth $36,000. LGT Financial Advisors LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth $37,000. REAP Financial Group LLC increased its position in shares of Robinhood Markets by 44.1% during the second quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock worth $49,000 after buying an additional 160 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth $56,000. Finally, Hemington Wealth Management increased its position in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider directly owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. In the last three months, insiders sold 5,175,598 shares of company stock valued at $579,779,430. Corporate insiders own 14.47% of the company’s stock.

Analyst Ratings Changes

HOOD has been the subject of several recent analyst reports. Bank of America increased their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Citizens Jmp increased their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a research report on Thursday, October 9th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. JMP Securities increased their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. Finally, Barclays raised their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $118.94.

Robinhood Markets Trading Up 4.1%

NASDAQ:HOOD opened at $139.79 on Friday. The stock has a market capitalization of $124.23 billion, a price-to-earnings ratio of 70.96, a PEG ratio of 3.63 and a beta of 2.42. The firm has a fifty day simple moving average of $123.41 and a two-hundred day simple moving average of $92.70. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same period last year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 45.0% on a year-over-year basis. Equities analysts predict 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.