Private Trust Co. NA Boosts Position in Robinhood Markets, Inc. $HOOD

Private Trust Co. NA grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 64.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,543 shares of the company’s stock after acquiring an additional 2,953 shares during the period. Private Trust Co. NA’s holdings in Robinhood Markets were worth $706,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HOOD. Vanguard Group Inc. lifted its position in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. WCM Investment Management LLC raised its stake in shares of Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at about $951,479,000. AGF Management Ltd. boosted its stake in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Robinhood Markets by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after acquiring an additional 131,620 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on HOOD. JMP Securities upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. Citigroup increased their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Needham & Company LLC lifted their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Mizuho increased their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.94.

Robinhood Markets Stock Down 1.2%

Shares of NASDAQ HOOD opened at $129.91 on Friday. The firm has a market cap of $115.45 billion, a price-to-earnings ratio of 65.94, a price-to-earnings-growth ratio of 3.43 and a beta of 2.42. The company’s 50-day simple moving average is $121.26 and its 200-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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $893.93 million. During the same period last year, the company posted $0.21 EPS. Robinhood Markets’s quarterly revenue was up 45.0% compared to the same quarter last year. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the completion of the sale, the insider directly owned 565,949 shares in the company, valued at approximately $83,952,874.66. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares in the company, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,181,462 shares of company stock valued at $567,328,871. Insiders own 14.47% of the company’s stock.

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.