Thompson Davis & CO. Inc. Reduces Stock Holdings in Robinhood Markets, Inc. $HOOD

Thompson Davis & CO. Inc. reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,950 shares of the company’s stock after selling 2,500 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Robinhood Markets were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares during the last quarter. Hemington Wealth Management boosted its position in 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 purchasing an additional 218 shares during the period. Smithfield Trust Co purchased a new position in shares of Robinhood Markets in the second quarter worth about $29,000. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets in the first quarter valued at approximately $33,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at approximately $36,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Down 3.8%

Shares of NASDAQ HOOD opened at $127.90 on Thursday. The stock’s 50-day moving average is $132.01 and its 200 day moving average is $101.75. The stock has a market cap of $113.66 billion, a price-to-earnings ratio of 53.92, a P/E/G ratio of 3.02 and a beta of 2.42. Robinhood Markets, Inc. has a 1-year low of $29.66 and a 1-year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s quarterly revenue was up 100.0% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the sale, the director directly owned 3,976,234 shares of the company’s stock, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,297,404 shares of company stock worth $529,026,559 in the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Mizuho lifted their price target on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Cantor Fitzgerald boosted their price objective on Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday, November 6th. Finally, Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $132.65.

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.