Voya Investment Management LLC Sells 755,515 Shares of Robinhood Markets, Inc. $HOOD

Voya Investment Management LLC decreased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 36.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,293,028 shares of the company’s stock after selling 755,515 shares during the period. Voya Investment Management LLC’s holdings in Robinhood Markets were worth $185,136,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital increased its position in shares of Robinhood Markets by 0.4% during the 3rd quarter. Wedmont Private Capital now owns 25,319 shares of the company’s stock valued at $3,671,000 after purchasing an additional 113 shares during the last quarter. True Vision MN LLC boosted its stake in Robinhood Markets by 1.7% in the second quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after buying an additional 116 shares in the last quarter. Forum Financial Management LP grew its position in Robinhood Markets by 0.8% during the second quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after acquiring an additional 134 shares during the last quarter. Hemington Wealth Management grew its position in Robinhood Markets by 22.5% during the second quarter. Hemington Wealth Management now owns 779 shares of the company’s stock valued at $72,000 after acquiring an additional 143 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Robinhood Markets by 2.3% during the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock worth $620,000 after acquiring an additional 148 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $132.26, for a total value of $775,704.90. Following the completion of the sale, the chief technology officer owned 26,725 shares of the company’s stock, valued at $3,534,648.50. This trade represents a 18.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Monday, November 17th. The shares were sold at an average price of $116.56, for a total transaction of $48,761,477.28. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,686,763 shares of company stock valued at $475,858,262 in the last 90 days. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Trading Up 1.2%

HOOD stock opened at $117.16 on Friday. The stock has a market capitalization of $105.35 billion, a price-to-earnings ratio of 48.61, a PEG ratio of 2.33 and a beta of 2.43. The firm’s 50-day moving average price is $129.54 and its two-hundred day moving average price is $113.17. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

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

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research reports. JMP Securities upped their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Robinhood Markets in a research note on Friday, December 5th. Bank of America reduced their price objective on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. KeyCorp lifted their price objective on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, The Goldman Sachs Group increased their target price on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.25.

Robinhood Markets 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.