Robinhood Markets, Inc. $HOOD Shares Sold by Bogart Wealth LLC

Bogart Wealth LLC cut its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 33.8% in the second quarter, Holdings Channel.com reports. The firm owned 312 shares of the company’s stock after selling 159 shares during the quarter. Bogart Wealth LLC’s holdings in Robinhood Markets were worth $29,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter worth $36,000. REAP Financial Group LLC grew its holdings in shares of Robinhood Markets by 44.1% in the second quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock valued at $49,000 after purchasing an additional 160 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Robinhood Markets during the second quarter worth about $56,000. Hemington Wealth Management increased its position in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Robinhood Markets during the first quarter worth about $30,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 2.9%

Shares of HOOD opened at $131.84 on Wednesday. The company has a market cap of $117.16 billion, a P/E ratio of 66.92, a PEG ratio of 3.59 and a beta of 2.42. 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 moving average price is $122.06 and its 200 day moving average price is $90.63.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company’s quarterly revenue was up 45.0% compared to the same quarter last year. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HOOD shares. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a research note on Thursday, July 31st. Compass Point increased their price objective on Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Citigroup raised their target price on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. KeyCorp lifted their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Finally, Mizuho increased their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Insider Activity

In related news, Director Baiju Bhatt sold 1,568,421 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares of the company’s stock, valued at $9,531,353.14. This represents a 38.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,181,462 shares of company stock worth $567,328,871 over the last three months. Company insiders own 19.95% of the company’s stock.

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.