Robinhood Markets, Inc. $HOOD Shares Bought by Spire Wealth Management

Spire Wealth Management raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 53.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,348 shares of the company’s stock after buying an additional 7,416 shares during the quarter. Spire Wealth Management’s holdings in Robinhood Markets were worth $1,999,000 at the end of the most recent quarter.

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

Robinhood Markets Stock Performance

HOOD stock opened at $138.07 on Friday. The company’s 50 day moving average price is $126.23 and its 200 day moving average price is $95.52. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The firm has a market capitalization of $122.70 billion, a price-to-earnings ratio of 70.09, a PEG ratio of 3.76 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping 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 in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 45.0% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In related news, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’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 sale, the insider owned 565,949 shares in the company, valued at $83,952,874.66. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,377,523 shares of company stock valued at $400,284,076. 14.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HOOD shares. Citigroup boosted their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Morgan Stanley boosted their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Mizuho boosted their price target 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. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research note on Monday. Finally, JMP Securities boosted their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Thirteen investment 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.85.

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.