Westfield Capital Management Co. LP Sells 95,366 Shares of Robinhood Markets, Inc. $HOOD

Westfield Capital Management Co. LP cut its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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).

Several other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. Vanguard Group Inc. grew its holdings in shares of Robinhood Markets by 24.9% in the third quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock worth $13,521,497,000 after purchasing an additional 18,824,923 shares during the last quarter. State Street Corp grew its holdings in Robinhood Markets by 9.2% in the 2nd quarter. State Street Corp now owns 15,870,421 shares of the company’s stock worth $1,485,948,000 after acquiring an additional 1,341,204 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock valued at $1,233,840,000 after acquiring an additional 507,926 shares during the period. Norges Bank bought a new position in shares of Robinhood Markets during the second quarter valued at about $973,122,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Robinhood Markets by 3.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,019,451 shares of the company’s stock worth $469,971,000 after purchasing an additional 168,099 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Cantor Fitzgerald reduced their price target on Robinhood Markets from $130.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Wall Street Zen cut Robinhood Markets from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Sanford C. Bernstein restated an “outperform” rating on shares of Robinhood Markets in a report on Wednesday, February 11th. Bank of America cut their price target on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Finally, KeyCorp dropped their target price on shares of Robinhood Markets from $160.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, February 9th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.71.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $87.07, for a total value of $870,700.00. Following the sale, the insider owned 393,612 shares in the company, valued at $34,271,796.84. This represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Monday, January 26th. The shares were sold at an average price of $107.48, for a total value of $630,262.72. Following the transaction, the chief technology officer owned 9,133 shares of the company’s stock, valued at $981,614.84. The trade was a 39.10% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 640,939 shares of company stock valued at $77,553,447. 14.47% of the stock is owned by company insiders.

Robinhood Markets Trading Up 2.5%

Shares of HOOD stock opened at $79.45 on Friday. The company’s fifty day moving average price is $100.14 and its 200-day moving average price is $116.23. The stock has a market cap of $71.44 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 1.57 and a beta of 2.43. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Robinhood Markets had a net margin of 42.10% and a return on equity of 22.32%. Robinhood Markets’s revenue was up 26.5% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Robinhood Markets 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.