Westfield Capital Management Co. LP Decreases Stake in Robinhood Markets, Inc. $HOOD

Westfield Capital Management Co. LP cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 287,615 shares of the company’s stock after selling 95,366 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Robinhood Markets were worth $41,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of Robinhood Markets by 46.7% during the 1st quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock valued at $2,076,000 after acquiring an additional 15,885 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Robinhood Markets by 142.3% during the second quarter. Envestnet Asset Management Inc. now owns 796,111 shares of the company’s stock valued at $74,540,000 after purchasing an additional 467,600 shares during the period. Bessemer Group Inc. purchased a new stake in Robinhood Markets in the second quarter worth approximately $1,284,000. Y Intercept Hong Kong Ltd grew its position in Robinhood Markets by 62.1% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 12,708 shares of the company’s stock worth $1,190,000 after purchasing an additional 4,870 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in Robinhood Markets by 24.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 111,043 shares of the company’s stock valued at $10,397,000 after buying an additional 21,549 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $79.45 on Friday. The company has a market cap of $71.44 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 1.57 and a beta of 2.43. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The stock’s 50 day simple moving average is $100.14 and its two-hundred day simple moving average is $116.23.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $1.01 earnings per share. Robinhood Markets’s quarterly revenue was up 26.5% on a year-over-year basis. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research reports. Mizuho dropped their price target on Robinhood Markets from $172.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Cantor Fitzgerald lowered their price target on shares of Robinhood Markets from $130.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday, November 6th. Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a research note on Wednesday, November 12th. Finally, Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a research report on Monday, February 9th. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average price target of $121.71.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $132.26, for a total transaction of $775,704.90. Following the sale, the chief technology officer owned 26,725 shares in the company, valued at approximately $3,534,648.50. This represents a 18.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction on Monday, January 5th. The stock was sold at an average price of $121.63, for a total transaction of $45,611,250.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 640,939 shares of company stock worth $77,553,447. Insiders own 14.47% of the company’s stock.

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.