TD Private Client Wealth LLC Purchases 966 Shares of Robinhood Markets, Inc. $HOOD

TD Private Client Wealth LLC raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 52.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,795 shares of the company’s stock after buying an additional 966 shares during the quarter. TD Private Client Wealth LLC’s holdings in Robinhood Markets were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its position in shares of Robinhood Markets by 13.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 268,012 shares of the company’s stock worth $25,094,000 after buying an additional 30,839 shares during the period. Ballentine Partners LLC grew its position in shares of Robinhood Markets by 2.3% during the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock worth $620,000 after buying an additional 148 shares during the period. Cigna Investments Inc. New grew its position in shares of Robinhood Markets by 8.9% during the 2nd quarter. Cigna Investments Inc. New now owns 7,326 shares of the company’s stock worth $686,000 after buying an additional 596 shares during the period. Norden Group LLC grew its position in shares of Robinhood Markets by 16.4% during the 2nd quarter. Norden Group LLC now owns 6,931 shares of the company’s stock worth $649,000 after buying an additional 979 shares during the period. Finally, Accurate Wealth Management LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth about $205,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several analyst reports. Mizuho boosted their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Redburn Atlantic reiterated a “sell” rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Barclays boosted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Finally, Needham & Company LLC boosted their price objective on Robinhood Markets from $71.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.06.

Robinhood Markets Stock Down 0.7%

NASDAQ:HOOD opened at $121.78 on Monday. Robinhood Markets, Inc. has a twelve month low of $22.05 and a twelve month high of $130.07. The business has a 50 day moving average price of $110.49 and a two-hundred day moving average price of $79.34. The company has a market cap of $108.22 billion, a P/E ratio of 61.82, a price-to-earnings-growth ratio of 4.34 and a beta of 2.36.

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

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the sale, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were 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 90 days, insiders sold 5,681,462 shares of company stock worth $581,726,917. Insiders own 19.95% of the company’s stock.

About Robinhood Markets

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.