Whipplewood Advisors LLC Acquires 4,620 Shares of Robinhood Markets, Inc. $HOOD

Whipplewood Advisors LLC raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 772.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,218 shares of the company’s stock after acquiring an additional 4,620 shares during the period. Whipplewood Advisors LLC’s holdings in Robinhood Markets were worth $489,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HOOD. Brighton Jones LLC increased its holdings in Robinhood Markets by 58.5% in the second quarter. Brighton Jones LLC now owns 9,276 shares of the company’s stock valued at $869,000 after purchasing an additional 3,425 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs increased its stake in shares of Robinhood Markets by 6.1% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 28,124 shares of the company’s stock valued at $2,633,000 after acquiring an additional 1,616 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its position in shares of Robinhood Markets by 61.4% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 17,761 shares of the company’s stock valued at $1,657,000 after acquiring an additional 6,756 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Robinhood Markets by 17.7% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 248,273 shares of the company’s stock worth $23,246,000 after acquiring an additional 37,361 shares during the last quarter. Finally, West Michigan Advisors LLC bought a new stake in Robinhood Markets in the second quarter valued at approximately $265,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research analyst reports. Citigroup boosted their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. JMP Securities boosted their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Citizens Jmp raised their price target on Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a research report on Thursday, October 9th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Finally, KeyCorp increased their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $118.94.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $139.79 on Friday. The firm has a market cap of $124.23 billion, a PE ratio of 70.96, a P/E/G ratio of 3.63 and a beta of 2.42. The business’s 50 day simple moving average is $123.41 and its 200 day simple moving average is $92.70. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s quarterly revenue was up 45.0% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $147.53, for a total transaction of $865,115.92. Following the transaction, the chief technology officer owned 11,952 shares of the company’s stock, valued at $1,763,278.56. The trade was a 32.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale can be found here. Insiders have sold 5,175,598 shares of company stock valued at $579,779,430 in the last quarter. 14.47% of the stock is currently owned by corporate insiders.

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.