Cyndeo Wealth Partners LLC Buys New Shares in Robinhood Markets, Inc. $HOOD

Cyndeo Wealth Partners LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, HoldingsChannel reports. The firm bought 4,343 shares of the company’s stock, valued at approximately $407,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hemington Wealth Management increased its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $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 acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $36,000. Finally, Colonial Trust Advisors increased its position in shares of Robinhood Markets by 125.0% in the first quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Down 8.9%

Shares of NASDAQ:HOOD opened at $138.96 on Friday. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86. The stock has a market cap of $123.49 billion, a PE ratio of 70.54, a P/E/G ratio of 3.86 and a beta of 2.42. The business has a 50 day moving average of $118.70 and a 200-day moving average of $86.09.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The business’s revenue was up 45.0% on a year-over-year basis. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on HOOD shares. Morgan Stanley lifted their target price on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Needham & Company LLC lifted their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Citizens Jmp lifted their price target on Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a report on Thursday. KeyCorp lifted their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $147.53, for a total transaction of $865,115.92. Following the completion of the sale, the chief technology officer owned 11,952 shares in the company, valued at $1,763,278.56. The trade was a 32.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction that occurred 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 quarter, insiders have sold 5,681,122 shares of company stock valued at $618,215,681. 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.