Robinhood Markets, Inc. $HOOD Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 14.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,333 shares of the company’s stock after purchasing an additional 535 shares during the quarter. Parallel Advisors LLC’s holdings in Robinhood Markets were worth $406,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HOOD. Whipplewood Advisors LLC boosted its holdings in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $33,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after purchasing an additional 498 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 3.2%

Shares of NASDAQ:HOOD opened at $124.78 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $125.18. The firm has a 50-day simple moving average of $108.40 and a 200 day simple moving average of $76.11. The company has a market cap of $110.89 billion, a PE ratio of 63.34, a P/E/G ratio of 4.62 and a beta of 2.36.

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

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent research reports. Compass Point lifted their target price 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. Mizuho lifted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Piper Sandler initiated coverage on shares of Robinhood Markets in a report on Wednesday, September 10th. They set an “overweight” rating and a $120.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a report on Monday, June 9th. Finally, JMP Securities lifted their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.88.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 92,257 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the completion of the transaction, the insider directly owned 136,364 shares of the company’s stock, valued at $11,585,485.44. The trade was a 40.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company’s stock, valued at $59,170,943.39. This trade represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,767,855 shares of company stock worth $588,837,174 over the last three months. Insiders own 14.47% of the company’s stock.

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.