Allegiance Financial Group Advisory Services LLC Has $472,000 Stock Holdings in Robinhood Markets, Inc. $HOOD

Allegiance Financial Group Advisory Services LLC cut its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 19.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,038 shares of the company’s stock after selling 1,195 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in Robinhood Markets were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HOOD. Hemington Wealth Management raised its holdings in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in Robinhood Markets in the first quarter worth $30,000. Pandora Wealth Inc. acquired a new stake in Robinhood Markets in the first quarter worth $33,000. V Square Quantitative Management LLC acquired a new stake in Robinhood Markets in the second quarter worth $36,000. Finally, Colonial Trust Advisors raised its holdings in Robinhood Markets by 125.0% in the first quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated 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. Insiders sold a total of 5,681,462 shares of company stock worth $618,250,191 in the last three months. 14.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald raised their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Compass Point raised their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Finally, KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.59.

Robinhood Markets Trading Up 4.0%

Robinhood Markets stock opened at $150.87 on Thursday. The company has a market cap of $134.07 billion, a P/E ratio of 76.58, a price-to-earnings-growth ratio of 4.03 and a beta of 2.42. Robinhood Markets, Inc. has a 1-year low of $23.00 and a 1-year high of $153.86. The company has a fifty day simple moving average of $116.93 and a 200 day simple moving average of $84.46.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.