Goldstein Advisors LLC Takes $264,000 Position in Robinhood Markets, Inc. $HOOD

Goldstein Advisors LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,821 shares of the company’s stock, valued at approximately $264,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC increased its holdings in shares of Robinhood Markets by 6.4% during the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after acquiring an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after buying an additional 1,186 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Robinhood Markets by 3.1% during the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after buying an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Robinhood Markets by 125.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after buying an additional 10,703 shares during the last quarter. Finally, Metavasi Capital LP boosted its position in shares of Robinhood Markets by 275.0% during the first quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock valued at $3,122,000 after buying an additional 55,000 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the transaction, the insider directly owned 94,454 shares of the company’s stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,181,462 shares of company stock worth $567,328,871. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $129.91 on Friday. The stock has a market capitalization of $115.45 billion, a price-to-earnings ratio of 65.94, a PEG ratio of 3.43 and a beta of 2.42. The stock’s 50-day simple moving average is $121.26 and its two-hundred day simple moving average is $89.28. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 business’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on HOOD. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. The Goldman Sachs Group increased their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Needham & Company LLC increased their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. JMP Securities increased their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Finally, Cantor Fitzgerald increased their price objective on Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.94.

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.