HB Wealth Management LLC Increases Holdings in Robinhood Markets, Inc. $HOOD

HB Wealth Management LLC lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,906 shares of the company’s stock after acquiring an additional 635 shares during the period. HB Wealth Management LLC’s holdings in Robinhood Markets were worth $2,145,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HOOD. Wellington Management Group LLP bought a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $588,000. GAMMA Investing LLC raised its holdings in Robinhood Markets by 5,733.0% during the 1st quarter. GAMMA Investing LLC now owns 341,700 shares of the company’s stock valued at $14,222,000 after buying an additional 335,842 shares during the period. Parallel Advisors LLC lifted its position in Robinhood Markets by 19.1% in the first quarter. Parallel Advisors LLC now owns 3,798 shares of the company’s stock worth $158,000 after buying an additional 609 shares during the last quarter. Rhumbline Advisers boosted its stake in Robinhood Markets by 5.0% during the first quarter. Rhumbline Advisers now owns 784,187 shares of the company’s stock worth $32,638,000 after buying an additional 37,640 shares during the period. Finally, NBC Securities Inc. increased its position in Robinhood Markets by 155,600.0% during the first quarter. NBC Securities Inc. now owns 1,557 shares of the company’s stock valued at $64,000 after acquiring an additional 1,556 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 385,485 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total transaction of $39,280,921.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the sale, the insider directly owned 94,454 shares of the company’s stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,906,462 shares of company stock valued at $509,427,417. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Price Performance

HOOD opened at $145.70 on Friday. The firm has a market capitalization of $129.48 billion, a PE ratio of 73.96, a price-to-earnings-growth ratio of 4.87 and a beta of 2.42. The business’s 50-day moving average is $113.58 and its two-hundred day moving average is $81.58. Robinhood Markets, Inc. has a 1 year low of $22.05 and a 1 year high of $146.70.

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, beating analysts’ consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company’s revenue was up 45.0% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. As a group, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HOOD. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Needham & Company LLC raised their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho upped their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Finally, Barclays lifted their target price on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $113.59.

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.