Goldstein Advisors LLC Takes Position in Robinhood Markets, Inc. $HOOD

Goldstein Advisors LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,821 shares of the company’s stock, valued at approximately $264,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management raised its stake in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC bought a new stake in Robinhood Markets during the 1st quarter valued at approximately $30,000. Pandora Wealth Inc. bought a new stake in Robinhood Markets during the 1st quarter valued at approximately $33,000. V Square Quantitative Management LLC bought a new stake in Robinhood Markets during the 2nd quarter valued at approximately $36,000. Finally, Colonial Trust Advisors raised its stake in Robinhood Markets by 125.0% during the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the period. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HOOD. Mizuho lifted their target price on Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Morgan Stanley lifted their target price on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. KeyCorp lifted their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Bank of America lifted their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Barclays lifted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.94.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $129.91 on Friday. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The stock’s 50 day simple moving average is $121.26 and its two-hundred day simple moving average is $89.28. The company has a market cap of $115.45 billion, a price-to-earnings ratio of 65.94, a PEG ratio of 3.43 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In other news, Director Meyer Malka sold 1,093,288 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. This represents a 38.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,181,462 shares of company stock worth $567,328,871. Company insiders own 14.47% of the company’s stock.

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.