AdvisorNet Financial Inc Has $810,000 Stock Holdings in Robinhood Markets, Inc. $HOOD

AdvisorNet Financial Inc grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,652 shares of the company’s stock after buying an additional 1,806 shares during the quarter. AdvisorNet Financial Inc’s holdings in Robinhood Markets were worth $810,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth about $951,479,000. AGF Management Ltd. increased its position in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after purchasing an additional 131,620 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Robinhood Markets by 4.2% during the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company’s stock worth $169,035,000 after purchasing an additional 163,823 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HOOD shares. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a research report on Thursday, July 31st. Morgan Stanley raised their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Cantor Fitzgerald raised their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Barclays raised their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Mizuho raised their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Eleven 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.06.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company’s stock, valued at $59,170,943.39. This trade represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,675,598 shares of company stock worth $580,999,019 over the last ninety days. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $126.20 on Wednesday. The company’s 50 day simple moving average is $109.43 and its 200 day simple moving average is $77.23. Robinhood Markets, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $127.78. The firm has a market capitalization of $112.15 billion, a price-to-earnings ratio of 64.06, a PEG ratio of 4.63 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data 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. 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 last year, the firm earned $0.21 EPS. Robinhood Markets’s quarterly revenue was up 45.0% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Company 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.