Petros Family Wealth LLC Invests $563,000 in Robinhood Markets, Inc. $HOOD

Petros Family Wealth LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,009 shares of the company’s stock, valued at approximately $563,000.

A number of other institutional investors have also bought and sold shares of HOOD. Wellington Management Group LLP purchased a new stake in Robinhood Markets in the 4th quarter worth $588,000. NBC Securities Inc. increased its stake in Robinhood Markets by 155,600.0% in the 1st quarter. NBC Securities Inc. now owns 1,557 shares of the company’s stock worth $64,000 after buying an additional 1,556 shares in the last quarter. Merit Financial Group LLC increased its stake in Robinhood Markets by 31.7% in the 1st quarter. Merit Financial Group LLC now owns 23,625 shares of the company’s stock worth $983,000 after buying an additional 5,686 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in Robinhood Markets in the 1st quarter worth $221,000. Finally, City State Bank increased its stake in Robinhood Markets by 94.0% in the 1st quarter. City State Bank now owns 970 shares of the company’s stock worth $40,000 after buying an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays increased their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Redburn Atlantic restated a “sell” rating and set a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Saturday, September 27th. Finally, Needham & Company LLC raised their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $113.59.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $148.67 on Monday. The firm has a market cap of $132.12 billion, a PE ratio of 75.47, a price-to-earnings-growth ratio of 4.13 and a beta of 2.42. The firm’s 50 day simple moving average is $114.45 and its 200-day simple moving average is $82.87. Robinhood Markets, Inc. has a one year low of $22.61 and a one year high of $150.21.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results 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 company’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares of the company’s stock, valued at $59,170,943.39. This trade represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets 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 disclosure for this sale can be found here. In the last three months, insiders sold 5,650,598 shares of company stock valued at $613,676,575. 19.95% of the stock is owned by corporate insiders.

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.