Alta Wealth Advisors LLC Makes New $1.01 Million Investment in Robinhood Markets, Inc. $HOOD

Alta Wealth Advisors LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,076 shares of the company’s stock, valued at approximately $1,013,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hantz Financial Services Inc. grew its holdings in shares of Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after acquiring an additional 148 shares during the last quarter. Valley National Advisers Inc. increased its stake in Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Smithfield Trust Co acquired a new stake in Robinhood Markets during the 2nd quarter worth about $29,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Robinhood Markets during the second quarter valued at about $34,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets in the second quarter worth about $36,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 0.0%

NASDAQ HOOD opened at $107.00 on Tuesday. The stock has a market capitalization of $96.21 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 1.67 and a beta of 2.44. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86. The company has a 50 day moving average price of $118.77 and a two-hundred day moving average price of $119.93.

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

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.59, for a total value of $713,003.76. Following the completion of the sale, the chief technology officer directly owned 14,997 shares of the company’s stock, valued at $1,823,485.23. This represents a 28.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 49,942 shares of Robinhood Markets stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total value of $6,549,893.30. Following the sale, the insider directly owned 54,496 shares in the company, valued at approximately $7,147,150.40. This trade represents a 47.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,872,561 shares of company stock worth $357,470,545 in the last quarter. 19.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent analyst reports. Truist Financial assumed coverage on shares of Robinhood Markets in a report on Wednesday, December 17th. They set a “buy” rating and a $155.00 price target on the stock. Bank of America cut their target price on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. The Goldman Sachs Group restated a “buy” rating on shares of Robinhood Markets in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a report on Monday, December 22nd. Finally, JMP Securities upped their price target 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. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $136.62.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.