Stratos Wealth Partners LTD. Makes New $751,000 Investment in Robinhood Markets, Inc. $HOOD

Stratos Wealth Partners LTD. acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,018 shares of the company’s stock, valued at approximately $751,000.

Other large investors also recently modified their holdings of the company. Hemington Wealth Management increased its holdings in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Wayfinding Financial LLC bought a new position in Robinhood Markets in the 1st quarter valued at $30,000. Pandora Wealth Inc. bought a new position in Robinhood Markets in the 1st quarter valued at $33,000. V Square Quantitative Management LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $36,000. Finally, Colonial Trust Advisors raised its position in shares of Robinhood Markets by 125.0% during the first quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock worth $37,000 after acquiring an additional 500 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $127.22 on Thursday. The firm has a market capitalization of $113.06 billion, a price-to-earnings ratio of 64.58, a PEG ratio of 3.48 and a beta of 2.42. The company’s 50 day simple moving average is $122.43 and its 200 day simple moving average is $90.88. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent research reports. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. Cantor Fitzgerald raised their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Mizuho boosted their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Needham & Company LLC raised 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. Finally, Citizens Jmp lifted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a report on Thursday, October 9th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $118.94.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the transaction, the chief technology officer owned 11,952 shares in the company, valued at $1,763,278.56. This trade represents a 32.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,763,124 shares of company stock worth $524,708,595 in the last three months. 14.47% of the stock is owned by insiders.

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.