Trivest Advisors Ltd Purchases New Shares in Robinhood Markets, Inc. $HOOD

Trivest Advisors Ltd purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 921,600 shares of the company’s stock, valued at approximately $86,289,000. Robinhood Markets makes up about 3.4% of Trivest Advisors Ltd’s investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. True Vision MN LLC raised its stake in Robinhood Markets by 1.7% during the second quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock valued at $642,000 after purchasing an additional 116 shares in the last quarter. Forum Financial Management LP raised its stake in Robinhood Markets by 0.8% during the second quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after purchasing an additional 134 shares in the last quarter. Hemington Wealth Management raised its stake in Robinhood Markets by 22.5% during the second quarter. Hemington Wealth Management now owns 779 shares of the company’s stock valued at $72,000 after purchasing an additional 143 shares in the last quarter. Ballentine Partners LLC raised its stake in Robinhood Markets by 2.3% during the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock valued at $620,000 after purchasing an additional 148 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 4.2%

NASDAQ HOOD opened at $142.48 on Thursday. The company’s 50-day moving average price is $129.11 and its 200-day moving average price is $98.72. The stock has a market cap of $126.62 billion, a PE ratio of 72.33, a PEG ratio of 3.55 and a beta of 2.42. Robinhood Markets, Inc. has a 12 month low of $26.74 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,337,392 shares of company stock valued at $397,124,959. Company insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HOOD shares. Needham & Company LLC increased their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Keefe, Bruyette & Woods increased their target price 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 increased their target price 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. Finally, Citizens Jmp increased their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a research note on Thursday, October 9th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $125.10.

Robinhood Markets 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.