LGT Financial Advisors LLC Makes New Investment in Robinhood Markets, Inc. $HOOD

LGT Financial Advisors LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 399 shares of the company’s stock, valued at approximately $37,000.

A number of other large investors have also modified their holdings of HOOD. Hemington Wealth Management boosted 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 acquired a new stake in shares of Robinhood Markets in the first quarter valued at approximately $30,000. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $33,000. V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets during the second quarter worth approximately $36,000. Finally, Colonial Trust Advisors boosted its position in shares of Robinhood Markets by 125.0% during the first quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HOOD. Barclays raised their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Cantor Fitzgerald lifted their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Bank of America increased their target price on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Citizens Jmp raised their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a research note on Thursday, October 9th. Finally, Needham & Company LLC upped their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $118.94.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the completion of the transaction, the chief technology officer directly owned 11,952 shares in the company, valued at $1,763,278.56. This trade represents a 32.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven M. Quirk sold 60,113 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,181,462 shares of company stock valued at $567,328,871 over the last 90 days. 19.95% of the stock is owned by insiders.

Robinhood Markets Trading Up 4.5%

Shares of NASDAQ HOOD opened at $135.80 on Tuesday. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86. The firm has a 50-day moving average of $121.70 and a two-hundred day moving average of $90.34. The company has a market capitalization of $120.68 billion, a price-to-earnings ratio of 68.93, a PEG ratio of 3.43 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 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 net margin of 50.13% and a return on equity of 17.48%. The business’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Robinhood Markets 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.