Colonial Trust Advisors Has $37,000 Stake in Robinhood Markets, Inc. $HOOD

Colonial Trust Advisors lowered its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 55.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 400 shares of the company’s stock after selling 500 shares during the quarter. Colonial Trust Advisors’ holdings in Robinhood Markets were worth $37,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Avantax Advisory Services Inc. lifted its position in Robinhood Markets by 29.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 24,799 shares of the company’s stock worth $1,032,000 after acquiring an additional 5,678 shares during the last quarter. LPL Financial LLC boosted its stake in Robinhood Markets by 58.8% during the 1st quarter. LPL Financial LLC now owns 478,131 shares of the company’s stock valued at $19,900,000 after purchasing an additional 176,995 shares during the period. Federated Hermes Inc. increased its position in Robinhood Markets by 2.1% in the 1st quarter. Federated Hermes Inc. now owns 31,024 shares of the company’s stock worth $1,291,000 after buying an additional 638 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Robinhood Markets during the first quarter worth approximately $445,000. Finally, Harbour Investments Inc. grew its stake in shares of Robinhood Markets by 731.7% in the first quarter. Harbour Investments Inc. now owns 22,257 shares of the company’s stock worth $926,000 after acquiring an additional 19,581 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 48,350 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the transaction, the insider owned 70,279 shares in the company, valued at approximately $9,881,930.19. This trade represents a 40.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $116.56, for a total value of $48,761,477.28. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 3,970,272 shares of company stock worth $505,742,993. Company insiders own 14.47% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research reports. Zacks Research downgraded shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Cantor Fitzgerald lifted their price objective on Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Robinhood Markets in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, Citizens Jmp increased their target price on shares of Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $136.95.

Robinhood Markets Trading Up 0.3%

Robinhood Markets stock opened at $128.55 on Friday. The company has a market cap of $115.59 billion, a PE ratio of 53.34, a PEG ratio of 2.88 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The company’s 50-day moving average is $132.70 and its two-hundred day moving average is $107.06.

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