Entropy Technologies LP Trims Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Entropy Technologies LP lowered its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 45.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,000 shares of the company's stock after selling 22,315 shares during the period. Entropy Technologies LP's holdings in Robinhood Markets were worth $632,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. HM Payson & Co. lifted its holdings in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company's stock worth $28,000 after buying an additional 410 shares in the last quarter. Eastern Bank purchased a new stake in shares of Robinhood Markets in the third quarter worth $30,000. ORG Partners LLC purchased a new stake in shares of Robinhood Markets in the second quarter worth $33,000. ORG Wealth Partners LLC bought a new stake in Robinhood Markets during the third quarter valued at $33,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Robinhood Markets during the first quarter worth about $34,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of HOOD traded up $0.10 on Friday, reaching $32.32. The stock had a trading volume of 17,507,804 shares, compared to its average volume of 15,988,664. Robinhood Markets, Inc. has a 12-month low of $7.91 and a 12-month high of $34.32. The firm has a market capitalization of $28.57 billion, a price-to-earnings ratio of 54.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.84. The company has a 50-day simple moving average of $25.20 and a 200-day simple moving average of $22.19.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The firm had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. During the same period last year, the firm posted ($0.09) earnings per share. The firm's quarterly revenue was up 36.4% on a year-over-year basis. On average, analysts expect that Robinhood Markets, Inc. will post 0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their price target on Robinhood Markets from $23.00 to $22.00 and set a "market perform" rating for the company in a research report on Thursday, August 8th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday. KeyCorp increased their price target on shares of Robinhood Markets from $25.00 to $30.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an "underweight" rating in a report on Thursday, October 17th. Finally, Barclays upped their price objective on Robinhood Markets from $23.00 to $26.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.10.

Insider Buying and Selling at Robinhood Markets

In related news, CFO Jason Warnick sold 25,000 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total transaction of $524,000.00. Following the completion of the sale, the chief financial officer now owns 1,077,162 shares in the company, valued at approximately $22,577,315.52. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 105,875 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the transaction, the director now directly owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,710,549 shares of company stock worth $115,477,194. Company insiders own 19.95% of the company's stock.

About Robinhood Markets

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.