Belpointe Asset Management LLC Invests $255,000 in Robinhood Markets, Inc. $HOOD

Belpointe Asset Management LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,131 shares of the company’s stock, valued at approximately $255,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Robinhood Markets by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company’s stock valued at $398,667,000 after buying an additional 52,700 shares in the last quarter. AGF Management Ltd. lifted its holdings in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Robinhood Markets by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock valued at $201,913,000 after buying an additional 131,620 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Robinhood Markets by 4.2% during the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company’s stock valued at $169,035,000 after buying an additional 163,823 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

HOOD stock opened at $114.83 on Tuesday. The firm’s fifty day simple moving average is $106.42 and its 200-day simple moving average is $74.26. Robinhood Markets, Inc. has a 12 month low of $21.50 and a 12 month high of $123.44. The company has a market capitalization of $102.05 billion, a P/E ratio of 58.29, a price-to-earnings-growth ratio of 4.11 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the sale, the insider directly owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the sale, the insider owned 610,949 shares of the company’s stock, valued at approximately $61,656,973.08. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,773,719 shares of company stock valued at $589,293,510. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HOOD shares. Compass Point lifted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. Cantor Fitzgerald lifted their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. KeyCorp lifted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Needham & Company LLC lifted their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Finally, Barclays lifted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $101.88.

Robinhood Markets Profile

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.