Tcfg Wealth Management LLC Reduces Holdings in Robinhood Markets, Inc. $HOOD

Tcfg Wealth Management LLC decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 44.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,685 shares of the company’s stock after selling 2,135 shares during the period. Tcfg Wealth Management LLC’s holdings in Robinhood Markets were worth $251,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Ballentine Partners LLC grew its stake in shares of Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after buying an additional 148 shares during the period. Cigna Investments Inc. New grew its stake in shares of Robinhood Markets by 2.7% in the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock valued at $280,000 after buying an additional 174 shares during the period. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock valued at $290,000 after buying an additional 265 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Robinhood Markets by 23.4% in the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company’s stock worth $58,000 after acquiring an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the sale, the insider directly owned 565,949 shares in the company, valued at approximately $83,952,874.66. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $124.13, for a total transaction of $727,898.32. Following the completion of the sale, the chief technology officer owned 17,816 shares in the company, valued at $2,211,500.08. The trade was a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,675,598 shares of company stock worth $617,385,075. 19.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HOOD. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. Bank of America upped their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Compass Point upped their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, KeyCorp upped their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $113.59.

Robinhood Markets Stock Up 0.5%

Robinhood Markets stock opened at $145.00 on Wednesday. The firm has a market cap of $128.86 billion, a PE ratio of 73.60, a price-to-earnings-growth ratio of 4.01 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 company’s 50 day moving average is $116.04 and its two-hundred day moving average is $84.00.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results 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 company had revenue of $989.00 million for 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 firm’s quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Robinhood Markets Company 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.