Robinhood Markets, Inc. $HOOD Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 12.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,901 shares of the company’s stock after purchasing an additional 16,739 shares during the period. Wealthfront Advisers LLC’s holdings in Robinhood Markets were worth $13,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Robinhood Markets by 8.6% during the first 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 in the last quarter. WCM Investment Management LLC grew its stake in shares of Robinhood Markets by 3,615.7% during the second 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 in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets during the second quarter worth $951,479,000. AGF Management Ltd. grew its stake in shares of Robinhood Markets by 286.0% during the first 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock valued at $201,913,000 after acquiring an additional 131,620 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the sale, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. This represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,175,598 shares of company stock valued at $579,779,430 in the last 90 days. 19.95% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HOOD has been the subject of several research analyst reports. Barclays upped their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Needham & Company LLC upped their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Bank of America upped their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. JMP Securities upped their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Finally, The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Robinhood Markets Stock Up 4.1%

NASDAQ HOOD opened at $139.79 on Monday. The stock has a market capitalization of $124.23 billion, a P/E ratio of 70.96, a P/E/G ratio of 3.63 and a beta of 2.42. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86. The firm has a 50-day moving average price of $123.41 and a 200 day moving average price of $93.05.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same period in the prior year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was up 45.0% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.