SG Americas Securities LLC Has $25.94 Million Holdings in Robinhood Markets, Inc. $HOOD

SG Americas Securities LLC increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 190.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 277,035 shares of the company’s stock after buying an additional 181,667 shares during the period. SG Americas Securities LLC’s holdings in Robinhood Markets were worth $25,939,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Meridian Wealth Management LLC grew its holdings in Robinhood Markets by 6.2% during the 2nd quarter. Meridian Wealth Management LLC now owns 231,591 shares of the company’s stock worth $21,684,000 after acquiring an additional 13,567 shares during the period. Opinicus Capital Inc. bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $212,000. Foundations Investment Advisors LLC grew its stake in Robinhood Markets by 7.9% during the second quarter. Foundations Investment Advisors LLC now owns 407,737 shares of the company’s stock worth $38,176,000 after purchasing an additional 29,880 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Robinhood Markets by 48.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,270,735 shares of the company’s stock worth $306,239,000 after purchasing an additional 1,073,914 shares in the last quarter. Finally, Financial Life Planners acquired a new position in Robinhood Markets in the second quarter valued at approximately $3,559,000. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $122.50 on Friday. The company has a 50-day moving average price of $132.81 and a 200-day moving average price of $102.77. The stock has a market capitalization of $110.15 billion, a P/E ratio of 50.83, a P/E/G ratio of 2.80 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 1,330,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the sale, the director owned 3,976,234 shares of the company’s stock, valued at $413,011,425.58. This trade represents a 21.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,297,404 shares of company stock valued at $529,026,559. 14.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HOOD shares. Citigroup raised their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Cantor Fitzgerald increased their target price on shares of Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $121.00 to $135.00 and gave the company a “market perform” rating in a research note on Thursday, November 6th. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $132.65.

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.