Harbor Investment Advisory LLC Has $1.60 Million Stake in Robinhood Markets, Inc. $HOOD

Harbor Investment Advisory LLC boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 18.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,045 shares of the company’s stock after purchasing an additional 2,700 shares during the period. Harbor Investment Advisory LLC’s holdings in Robinhood Markets were worth $1,596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. Vanguard Group Inc. increased its holdings in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. AGF Management Ltd. boosted its position in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the last quarter. Wealthquest Corp bought a new position in shares of Robinhood Markets in the 1st quarter worth $156,193,000. Southpoint Capital Advisors LP bought a new position in shares of Robinhood Markets in the 4th quarter worth $130,410,000. Finally, Altimeter Capital Management LP bought a new position in shares of Robinhood Markets in the 1st quarter worth $120,103,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HOOD has been the topic of several recent research reports. Morgan Stanley raised their price target on Robinhood Markets from $43.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Needham & Company LLC lifted their target price on Robinhood Markets from $71.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. JMP Securities lifted their target price on Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. KeyCorp lifted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.88.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $115.03 on Friday. The firm has a market cap of $102.22 billion, a price-to-earnings ratio of 58.39, a price-to-earnings-growth ratio of 4.32 and a beta of 2.36. The stock’s 50-day moving average is $105.99 and its 200-day moving average is $73.46. Robinhood Markets, Inc. has a one year low of $21.50 and a one year high of $123.44.

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

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total value of $2,523,000.00. Following the sale, the insider directly owned 610,949 shares in the company, valued at $61,656,973.08. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider owned 94,454 shares in the company, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,773,719 shares of company stock valued at $589,293,510. Corporate 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.