Robinhood Markets, Inc. $HOOD Stock Position Raised by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 18.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,176 shares of the company’s stock after acquiring an additional 4,196 shares during the quarter. Venturi Wealth Management LLC’s holdings in Robinhood Markets were worth $2,544,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in HOOD. Hemington Wealth Management lifted its position in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at approximately $30,000. Pandora Wealth Inc. acquired a new position in Robinhood Markets in the 1st quarter valued at approximately $33,000. V Square Quantitative Management LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at approximately $36,000. Finally, Colonial Trust Advisors increased its stake in Robinhood Markets by 125.0% in the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.97, for a total value of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares in the company, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,675,598 shares of company stock valued at $617,385,075. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Up 0.5%

Shares of HOOD opened at $145.00 on Wednesday. The company’s fifty day moving average is $116.04 and its 200-day moving average is $84.00. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86. The firm has a market cap of $128.86 billion, a price-to-earnings ratio of 73.60, a price-to-earnings-growth ratio of 4.01 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last announced 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 company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the prior year, the business posted $0.21 EPS. Robinhood Markets’s quarterly revenue was up 45.0% on a year-over-year basis. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research reports. Keefe, Bruyette & Woods upped their price objective 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. Mizuho upped their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Citigroup upped their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Morgan Stanley upped their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $113.59.

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.