Sei Investments Co. Sells 136,111 Shares of Robinhood Markets, Inc. $HOOD

Sei Investments Co. reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 21.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 491,340 shares of the company’s stock after selling 136,111 shares during the quarter. Sei Investments Co.’s holdings in Robinhood Markets were worth $34,056,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its position in Robinhood Markets by 88.9% during the fourth quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after acquiring an additional 68,458 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Robinhood Markets by 86.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock worth $11,406,000 after purchasing an additional 46,688 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after purchasing an additional 478,919 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Robinhood Markets by 100.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 60,000 shares of the company’s stock valued at $6,786,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its holdings in shares of Robinhood Markets by 107.8% during the 4th quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock valued at $30,832,000 after purchasing an additional 141,440 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

More Robinhood Markets News

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood is reportedly considering a partnership with Crypto.com to expand its prediction-market offerings. The arrangement could improve market reliability, broaden event coverage and allow Robinhood to capture more economics from the growing business. HOOD Eyes Deeper Push Into Prediction Markets: What Does This Mean?
• Positive Sentiment: Robinhood’s blockchain strategy is gaining attention, with its Robinhood Chain reportedly ranking third among applications by weekly fees at approximately $25 million. Growth in real-world assets, meme coins and prediction markets could create additional transaction and platform revenue opportunities. Robinhood Bets on 3 Crypto Sectors as Blockchain Fees Hit $25 Million
• Neutral Sentiment: Robinhood is scheduled to report second-quarter earnings, with investors looking for continued strength in stock and options trading. The prediction-market initiative offers a potential growth avenue, but any Crypto.com agreement remains unconfirmed and could face regulatory scrutiny. Robinhood to Report Earnings Tomorrow
• Negative Sentiment: Analysts caution that weak cryptocurrency activity, rising expenses and Robinhood’s premium valuation cloud the outlook heading into earnings. The stock’s elevated valuation leaves less room for disappointment if revenue or guidance falls short of expectations. Buy, Hold or Sell Robinhood Stock? Key Insights Ahead of Q2 Earnings

Analyst Ratings Changes

Several research analysts recently weighed in on the company. BTIG Research restated a “buy” rating and set a $125.00 target price on shares of Robinhood Markets in a research note on Thursday, July 2nd. Needham & Company LLC increased their price target on Robinhood Markets from $97.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Sanford C. Bernstein raised their price target on Robinhood Markets from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Jefferies Financial Group cut their price objective on shares of Robinhood Markets from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Truist Financial decreased their price objective on shares of Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 13th. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $122.22.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $95.65 on Tuesday. The company has a market cap of $86.13 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 2.00 and a beta of 2.33. The stock’s fifty day moving average price is $96.89 and its 200 day moving average price is $88.19. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. Research analysts expect that Robinhood Markets, Inc. will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $83.68, for a total transaction of $836,800.00. Following the completion of the sale, the insider owned 481,396 shares of the company’s stock, valued at $40,283,217.28. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven M. Quirk sold 19,377 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $119.96, for a total transaction of $2,324,464.92. Following the completion of the transaction, the insider owned 62,612 shares in the company, valued at approximately $7,510,935.52. This trade represents a 23.63% 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 ninety days, insiders acquired 680,000 shares of company stock valued at $55,306,560 and sold 582,040 shares valued at $62,113,242. Company insiders own 13.48% of the company’s stock.

Robinhood Markets Company 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.