Robinhood Markets, Inc. $HOOD Shares Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 40.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,197 shares of the company’s stock after purchasing an additional 17,761 shares during the period. Cary Street Partners Financial LLC’s holdings in Robinhood Markets were worth $5,824,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HOOD. Federated Hermes Inc. grew its holdings in Robinhood Markets by 106.2% in the second quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock valued at $5,988,000 after purchasing an additional 32,933 shares during the last quarter. Jump Financial LLC boosted its position in shares of Robinhood Markets by 2,404.2% in the 2nd quarter. Jump Financial LLC now owns 302,877 shares of the company’s stock worth $28,358,000 after buying an additional 290,782 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Robinhood Markets by 87.5% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 902 shares of the company’s stock valued at $84,000 after acquiring an additional 421 shares during the last quarter. Sassicaia Capital Advisers LLC acquired a new stake in Robinhood Markets in the 2nd quarter valued at about $25,213,000. Finally, Clear Street LLC purchased a new position in Robinhood Markets during the 2nd quarter valued at about $116,734,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. CICC Research initiated coverage on shares of Robinhood Markets in a research report on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Citigroup upped their target price on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Loop Capital set a $161.00 price target on Robinhood Markets in a research report on Monday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Robinhood Markets in a research report on Friday. Finally, JMP Securities increased their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price of $136.95.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 49,942 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $131.15, for a total value of $6,549,893.30. Following the completion of the sale, the insider directly owned 54,496 shares in the company, valued at approximately $7,147,150.40. The trade was a 47.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 4,099,236 shares of company stock worth $525,040,481. 14.47% of the stock is owned by insiders.

Robinhood Markets Stock Down 3.7%

Shares of Robinhood Markets stock opened at $131.95 on Monday. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The business’s fifty day moving average is $133.29 and its two-hundred day moving average is $110.06. The firm has a market cap of $118.65 billion, a PE ratio of 54.75, a P/E/G ratio of 2.97 and a beta of 2.43.

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

Robinhood Markets Company 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.