US Bancorp DE Acquires 42,053 Shares of Robinhood Markets, Inc. $HOOD

US Bancorp DE lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 139.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 72,195 shares of the company’s stock after purchasing an additional 42,053 shares during the quarter. US Bancorp DE’s holdings in Robinhood Markets were worth $6,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HOOD. True Vision MN LLC lifted its holdings in Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after purchasing an additional 116 shares during the last quarter. Ballentine Partners LLC lifted its holdings in Robinhood Markets by 2.3% during the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock worth $620,000 after purchasing an additional 148 shares during the last quarter. REAP Financial Group LLC lifted its holdings in Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock worth $49,000 after purchasing an additional 160 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in Robinhood Markets by 2.7% during the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock worth $280,000 after purchasing an additional 174 shares during the last quarter. Finally, Hemington Wealth Management lifted its holdings in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. JMP Securities lifted their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday. Morgan Stanley lifted their price objective on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Citizens Jmp lifted their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a report on Thursday. Finally, Barclays lifted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,566,947 shares of company stock worth $606,609,792 over the last three months. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $138.96 on Monday. Robinhood Markets, Inc. has a 52 week low of $23.00 and a 52 week high of $153.86. The stock has a market capitalization of $123.49 billion, a P/E ratio of 70.54, a price-to-earnings-growth ratio of 3.77 and a beta of 2.42. The stock has a fifty day moving average of $118.70 and a 200-day moving average of $86.38.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly 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. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same quarter in the previous year, the firm earned $0.21 EPS. Robinhood Markets’s revenue was up 45.0% on a year-over-year basis. On average, research analysts forecast 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.