Almanack Investment Partners LLC. Invests $1.19 Million in Robinhood Markets, Inc. $HOOD

Almanack Investment Partners LLC. acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 12,717 shares of the company’s stock, valued at approximately $1,191,000.

Several other large investors have also recently added to or reduced their stakes in HOOD. Kingstone Capital Partners Texas LLC bought a new position in Robinhood Markets during the second quarter worth $951,479,000. Vanguard Group Inc. lifted its stake in 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 during the last quarter. AGF Management Ltd. lifted its stake in 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 during the last quarter. Wealthquest Corp bought a new position in Robinhood Markets during the first quarter worth $156,193,000. Finally, Altimeter Capital Management LP bought a new position in Robinhood Markets during the first quarter worth $120,103,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Cantor Fitzgerald raised their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Barclays raised their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Bank of America raised their target price on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Compass Point raised their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $118.94.

Insider Buying and Selling at Robinhood Markets

In related news, 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 transaction of $865,115.92. Following the sale, the chief technology officer directly owned 11,952 shares in the company, valued at $1,763,278.56. The trade was a 32.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,566,947 shares of company stock valued at $606,609,792. 19.95% of the stock is currently owned by insiders.

Robinhood Markets Stock Down 8.9%

Shares of NASDAQ HOOD opened at $138.96 on Monday. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The firm’s 50-day simple moving average is $118.70 and its 200 day simple moving average is $86.38. The stock has a market cap of $123.49 billion, a P/E ratio of 70.54, a P/E/G ratio of 3.77 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. During the same period in the previous year, the business earned $0.21 earnings per share. The company’s revenue was up 45.0% on a year-over-year basis. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.