Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Robinhood Markets, Inc. $HOOD

Wealth Enhancement Advisory Services LLC raised its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 17.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,358 shares of the company’s stock after acquiring an additional 15,831 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Robinhood Markets were worth $9,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Robinhood Markets by 84.4% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 273,400 shares of the company’s stock worth $25,598,000 after acquiring an additional 125,100 shares in the last quarter. RFG Holdings Inc. raised its holdings in shares of Robinhood Markets by 175.0% during the 2nd quarter. RFG Holdings Inc. now owns 21,605 shares of the company’s stock worth $2,023,000 after acquiring an additional 13,749 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Robinhood Markets by 102.9% during the 2nd quarter. Wedmont Private Capital now owns 25,206 shares of the company’s stock worth $2,383,000 after acquiring an additional 12,782 shares in the last quarter. Swedbank AB raised its holdings in shares of Robinhood Markets by 34.1% during the 2nd quarter. Swedbank AB now owns 400,996 shares of the company’s stock worth $37,545,000 after acquiring an additional 102,065 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Robinhood Markets by 19.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 74,584 shares of the company’s stock worth $6,983,000 after acquiring an additional 12,375 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 92,257 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the transaction, the insider owned 136,364 shares of the company’s stock, valued at approximately $11,585,485.44. This represents a 40.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,767,855 shares of company stock worth $588,837,174. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 0.1%

Shares of Robinhood Markets stock opened at $124.89 on Tuesday. The stock’s fifty day moving average is $108.90 and its two-hundred day moving average is $76.89. The company has a market capitalization of $110.99 billion, a PE ratio of 63.40, a price-to-earnings-growth ratio of 4.62 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $22.05 and a 52 week high of $126.64.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays upped their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Citigroup increased their price target on Robinhood Markets from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. The Goldman Sachs Group increased their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a “buy” rating in a report on Monday, July 7th. Morgan Stanley increased their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a report on Monday, June 9th. Eleven 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.