Redhawk Wealth Advisors Inc. Invests $394,000 in Robinhood Markets, Inc. $HOOD

Redhawk Wealth Advisors Inc. acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, Holdings Channel reports. The fund acquired 4,205 shares of the company’s stock, valued at approximately $394,000.

A number of other large investors have also recently added to or reduced their stakes in HOOD. Rafferty Asset Management LLC acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Robinhood Markets by 25.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,727,467 shares of the company’s stock valued at $101,625,000 after acquiring an additional 548,798 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $287,000. GF Fund Management CO. LTD. acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $2,944,000. Finally, Ameriflex Group Inc. acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $48,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on HOOD shares. The Goldman Sachs Group upped their price objective on Robinhood Markets from $91.00 to $104.00 and gave the company a “buy” rating in a report on Monday, July 7th. Keefe, Bruyette & Woods upped their price objective on Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Barclays upped their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Cantor Fitzgerald upped their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Piper Sandler assumed coverage on Robinhood Markets in a research note on Wednesday, September 10th. They set an “overweight” rating and a $120.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.88.

Robinhood Markets Trading Up 3.2%

Shares of NASDAQ HOOD opened at $124.78 on Friday. The stock has a market cap of $110.89 billion, a P/E ratio of 63.34, a PEG ratio of 4.48 and a beta of 2.36. Robinhood Markets, Inc. has a 12-month low of $22.05 and a 12-month high of $125.18. The business’s fifty day simple moving average is $108.40 and its 200-day simple moving average is $75.91.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $99.83, for a total value of $585,502.95. Following the sale, the chief technology officer directly owned 23,680 shares in the company, valued at approximately $2,363,974.40. This trade represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,767,855 shares of company stock valued at $588,837,174. 14.47% of the stock is owned by company 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.