Robinhood Markets, Inc. $HOOD Shares Purchased by Allworth Financial LP

Allworth Financial LP raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2,288.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,464 shares of the company’s stock after purchasing an additional 32,063 shares during the quarter. Allworth Financial LP’s holdings in Robinhood Markets were worth $3,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Hantz Financial Services Inc. raised its position in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth $36,000. LGT Financial Advisors LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth $37,000. Atlantic Union Bankshares Corp purchased a new position in shares of Robinhood Markets in the 2nd quarter valued at about $37,000. Finally, REAP Financial Group LLC lifted its stake in shares of Robinhood Markets by 44.1% in the second quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock valued at $49,000 after purchasing an additional 160 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the completion of the transaction, the insider owned 565,949 shares of the company’s stock, valued at $83,952,874.66. This represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 4,297,404 shares of company stock valued at $529,026,559. Corporate insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. KeyCorp raised their price objective on Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Barclays lifted their price objective on Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Citigroup upped their target price on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.65.

Robinhood Markets Stock Performance

Shares of HOOD opened at $132.98 on Thursday. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The company’s 50 day simple moving average is $132.01 and its 200 day simple moving average is $101.75. The company has a market capitalization of $118.18 billion, a price-to-earnings ratio of 55.18, a PEG ratio of 3.02 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.17 EPS. Robinhood Markets’s revenue for the quarter was up 100.0% on a year-over-year basis. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.