Harbour Investments Inc. Raises Stock Holdings in Robinhood Markets, Inc. $HOOD

Harbour Investments Inc. raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 96.8% during the 2nd quarter, Holdings Channel reports. The firm owned 43,805 shares of the company’s stock after buying an additional 21,548 shares during the quarter. Harbour Investments Inc.’s holdings in Robinhood Markets were worth $4,101,000 at the end of the most recent reporting period.

A number of other institutional investors and 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% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Robinhood Markets during the first quarter valued at $30,000. Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $33,000. V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets during the second quarter worth about $36,000. Finally, Colonial Trust Advisors raised its position in shares of Robinhood Markets by 125.0% during the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 0.6%

Shares of NASDAQ:HOOD opened at $134.15 on Thursday. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86. The stock has a market cap of $119.22 billion, a P/E ratio of 68.10, a PEG ratio of 3.64 and a beta of 2.42. The business has a fifty day moving average of $120.55 and a two-hundred day moving average of $87.73.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly 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 firm had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. During the same quarter in the previous year, the company posted $0.21 EPS. The company’s revenue was up 45.0% compared to the same quarter last year. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Mizuho boosted their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Barclays increased their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Morgan Stanley lifted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.94.

Insiders Place Their Bets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets 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. Over the last 90 days, insiders have sold 5,181,462 shares of company stock worth $567,328,871. 14.47% of the stock is currently owned by company insiders.

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.