World Investment Advisors Boosts Holdings in Robinhood Markets, Inc. $HOOD

World Investment Advisors increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,520 shares of the company’s stock after purchasing an additional 2,331 shares during the period. World Investment Advisors’ holdings in Robinhood Markets were worth $2,951,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. True Vision MN LLC increased its stake in Robinhood Markets by 1.7% in the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after acquiring an additional 116 shares during the last quarter. Forum Financial Management LP increased its stake in Robinhood Markets by 0.8% in the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock worth $1,685,000 after acquiring an additional 134 shares during the last quarter. Hemington Wealth Management increased its stake in Robinhood Markets by 22.5% in the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company’s stock worth $72,000 after acquiring an additional 143 shares during the last quarter. Ballentine Partners LLC increased its stake in Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock worth $620,000 after acquiring an additional 148 shares during the last quarter. Finally, REAP Financial Group LLC increased its stake in Robinhood Markets by 44.1% in the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock worth $49,000 after acquiring an additional 160 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. 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 company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,377,523 shares of company stock worth $400,284,076 over the last ninety days. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Down 4.6%

Shares of Robinhood Markets stock opened at $138.07 on Friday. The stock’s fifty day moving average is $126.23 and its two-hundred day moving average is $95.52. The company has a market capitalization of $122.70 billion, a PE ratio of 70.09, a price-to-earnings-growth ratio of 3.76 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.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. The company 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%.Robinhood Markets’s quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HOOD. Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Morgan Stanley boosted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Mizuho boosted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Barclays boosted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, CICC Research initiated coverage on Robinhood Markets in a research report on Monday. They set an “outperform” rating and a $155.00 target price on the stock. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.85.

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.