Robinhood Markets, Inc. $HOOD Shares Purchased by Choreo LLC

Choreo LLC boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 41.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,021 shares of the company’s stock after buying an additional 4,403 shares during the period. Choreo LLC’s holdings in Robinhood Markets were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its holdings in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares in the last quarter. Smithfield Trust Co purchased a new stake in Robinhood Markets during the 2nd quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new position in Robinhood Markets during the 2nd quarter valued at approximately $36,000. LGT Financial Advisors LLC purchased a new position in shares of Robinhood Markets in the second quarter worth $37,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Robinhood Markets during the second quarter worth $37,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 0.3%

Shares of HOOD stock opened at $128.55 on Friday. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The stock has a market cap of $115.59 billion, a P/E ratio of 53.34, a P/E/G ratio of 2.89 and a beta of 2.42. The stock has a 50 day moving average of $132.70 and a 200 day moving average of $107.37.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Monday, November 17th. The shares were sold at an average price of $116.56, for a total value of $48,761,477.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven M. Quirk sold 48,350 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the completion of the transaction, the insider owned 70,279 shares of the company’s stock, valued at approximately $9,881,930.19. This trade represents a 40.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,970,272 shares of company stock worth $505,742,993 in the last ninety days. Corporate insiders own 14.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho upped their target price on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Piper Sandler reissued an “overweight” rating on shares of Robinhood Markets in a report on Wednesday. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. JMP Securities upped their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Finally, Morgan Stanley increased their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.95.

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.