Brown Wealth Management LLC Increases Stock Position in Robinhood Markets, Inc. $HOOD

Brown Wealth Management LLC grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 74.2% during the second quarter, Holdings Channel.com reports. The fund owned 17,866 shares of the company’s stock after acquiring an additional 7,609 shares during the period. Brown Wealth Management LLC’s holdings in Robinhood Markets were worth $1,673,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in HOOD. Larson Financial Group LLC increased its holdings in Robinhood Markets by 66.0% in the 1st quarter. Larson Financial Group LLC now owns 1,524 shares of the company’s stock valued at $63,000 after purchasing an additional 606 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Robinhood Markets by 9.9% during the first quarter. Victory Capital Management Inc. now owns 242,022 shares of the company’s stock worth $10,073,000 after buying an additional 21,862 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at $357,000. IFP Advisors Inc raised its holdings in shares of Robinhood Markets by 57.3% in the 1st quarter. IFP Advisors Inc now owns 6,915 shares of the company’s stock valued at $288,000 after buying an additional 2,519 shares during the period. Finally, Montag A & Associates Inc. lifted its stake in Robinhood Markets by 39.8% during the 1st quarter. Montag A & Associates Inc. now owns 2,872 shares of the company’s stock worth $120,000 after acquiring an additional 818 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Down 1.4%

Shares of HOOD stock opened at $114.30 on Wednesday. The firm has a fifty day moving average price of $132.70 and a 200 day moving average price of $104.10. The company has a market cap of $102.78 billion, a P/E ratio of 47.43, a PEG ratio of 2.59 and a beta of 2.42. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.Robinhood Markets’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $145.95, for a total value of $3,648,750.00. Following the completion of the transaction, the insider directly owned 540,949 shares of the company’s stock, valued at $78,951,506.55. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The SEC filing for this sale provides additional information. Insiders have sold 4,297,404 shares of company stock valued at $529,026,559 over the last 90 days. Insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HOOD. Barclays lifted their target price on Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Cantor Fitzgerald boosted their price target on shares of Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. CICC Research assumed coverage on Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research note on Thursday, November 13th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.65.

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.