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

Inlight Wealth Management LLC decreased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 29.6% during the 2nd quarter, Holdings Channel reports. The fund owned 785 shares of the company’s stock after selling 330 shares during the quarter. Inlight Wealth Management LLC’s holdings in Robinhood Markets were worth $74,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC boosted its holdings in Robinhood Markets by 260.9% in the 2nd quarter. Belpointe Asset Management LLC now owns 22,126 shares of the company’s stock valued at $2,072,000 after purchasing an additional 15,995 shares in the last quarter. Petros Family Wealth LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at approximately $563,000. DAVENPORT & Co LLC boosted its stake in shares of Robinhood Markets by 528.8% in the second quarter. DAVENPORT & Co LLC now owns 65,899 shares of the company’s stock valued at $6,170,000 after buying an additional 55,419 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Robinhood Markets in the second quarter valued at approximately $251,000. Finally, Wealthcare Advisory Partners LLC grew its holdings in Robinhood Markets by 18.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 7,871 shares of the company’s stock worth $737,000 after acquiring an additional 1,227 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research analyst reports. Bank of America boosted their target price on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities boosted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Cantor Fitzgerald upped their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Compass Point lifted their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a report on Saturday, September 27th. Twelve 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $113.59.

Robinhood Markets Stock Up 2.0%

Robinhood Markets stock opened at $148.67 on Monday. Robinhood Markets, Inc. has a 52-week low of $22.61 and a 52-week high of $150.21. The firm has a fifty day moving average of $114.45 and a 200-day moving average of $82.87. The firm has a market capitalization of $132.12 billion, a P/E ratio of 75.47, a PEG ratio of 4.13 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the previous year, the business posted $0.21 EPS. The business’s quarterly revenue was up 45.0% on a year-over-year basis. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,650,598 shares of company stock valued at $613,676,575. 19.95% of the stock is owned by insiders.

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.