Global Retirement Partners LLC Takes Position in Robinhood Markets, Inc. $HOOD

Global Retirement Partners LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 17,465 shares of the company’s stock, valued at approximately $1,635,000.

A number of other institutional investors have also added to or reduced their stakes in HOOD. HighTower Advisors LLC grew its stake in Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after purchasing an additional 3,032 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Robinhood Markets by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after buying an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Robinhood Markets by 125.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after buying an additional 10,703 shares during the period. Metavasi Capital LP increased its holdings in Robinhood Markets by 275.0% during the first quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after buying an additional 55,000 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Robinhood Markets by 137.6% in the first quarter. Deutsche Bank AG now owns 1,761,767 shares of the company’s stock worth $73,325,000 after acquiring an additional 1,020,286 shares during the period. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $128.20 on Thursday. The firm has a market capitalization of $115.28 billion, a P/E ratio of 53.20, a PEG ratio of 2.60 and a beta of 2.42. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The business has a fifty day moving average price of $132.48 and a 200-day moving average price of $106.41.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 100.0% on a year-over-year basis. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $146.91, for a total value of $861,480.24. Following the sale, the chief technology officer directly owned 6,088 shares in the company, valued at $894,388.08. This represents a 49.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $112.98, for a total transaction of $1,129,800.00. Following the transaction, the insider owned 530,949 shares of the company’s stock, valued at $59,986,618.02. This trade represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,970,272 shares of company stock valued at $505,742,993. Corporate insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HOOD. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Barclays increased their price objective on Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Robinhood Markets in a research note on Wednesday. CICC Research initiated coverage on Robinhood Markets in a research report on Monday, October 27th. They set an “outperform” rating and a $155.00 price target on the stock. Finally, Bank of America lifted their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Fourteen 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, the company has an average rating of “Moderate Buy” and an average target price of $136.95.

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.