Carnegie Investment Counsel Invests $328,000 in Robinhood Markets, Inc. $HOOD

Carnegie Investment Counsel purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,500 shares of the company’s stock, valued at approximately $328,000.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC grew its position in shares of Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after buying an additional 3,032 shares during the period. TD Private Client Wealth LLC grew its holdings in 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 purchasing an additional 1,186 shares during the period. Wellington Management Group LLP grew its holdings in 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 purchasing an additional 486 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in 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 purchasing an additional 10,703 shares during the period. Finally, Metavasi Capital LP grew its holdings in 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 purchasing an additional 55,000 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 4.1%

Robinhood Markets stock opened at $139.79 on Monday. The company has a 50 day moving average of $123.41 and a 200-day moving average of $93.05. The stock has a market capitalization of $124.23 billion, a PE ratio of 70.96, a price-to-earnings-growth ratio of 3.63 and a beta of 2.42. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86.

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

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the sale, the chief technology officer owned 11,952 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction 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. This represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,175,598 shares of company stock valued at $579,779,430 over the last 90 days. 19.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HOOD shares. Barclays boosted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Cantor Fitzgerald boosted their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Piper Sandler restated 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. KeyCorp boosted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Finally, Bank of America upped their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company 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.