Parcion Private Wealth LLC Makes New $373,000 Investment in Robinhood Markets, Inc. $HOOD

Parcion Private Wealth LLC bought a new position 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 3,983 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds also recently modified their holdings of HOOD. WCM Investment Management LLC raised its holdings in shares of Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter worth approximately $951,479,000. Vanguard Group Inc. raised its holdings in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. AGF Management Ltd. raised its holdings in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the period. Finally, Wealthquest Corp bought a new stake in Robinhood Markets during the 1st quarter valued at $156,193,000. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 60,113 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company’s stock, valued at $59,170,943.39. This trade represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,763,124 shares of company stock valued at $524,708,595 in the last three months. 14.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of analyst reports. Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Citizens Jmp boosted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Finally, Compass Point boosted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Robinhood Markets Price Performance

HOOD opened at $127.22 on Thursday. The company has a fifty day moving average price of $122.43 and a 200-day moving average price of $90.88. The firm has a market capitalization of $113.06 billion, a P/E ratio of 64.58, a price-to-earnings-growth ratio of 3.48 and a beta of 2.42. Robinhood Markets, Inc. has a one year low of $23.00 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates 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 business earned $0.21 EPS. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.