Alphabet sold almost 90% of its Robinhood stake last quarter

• Alphabet slashed its stake in Robinhood stock by nearly 90% in the second quarter, SEC filings show.
• The Google parent cut its stake from about 4.9 million shares to about 612,000.
• Robinhood is coming off its first-ever profitable quarter as a public company, but is losing active users.

Alphabet reduced its stake in Robinhood by nearly 90% in the second quarter, according to a Friday SEC filing. 

The Google-parent cut its holdings from 4.9 million shares at the end of March to 612,214 shares at the end of June. At Robinhood’s closing stock price of $11.54 on Thursday, the remaining stake is worth $7.06 million.