Coordinated Financial Services Inc. Purchases New Shares in Robinhood Markets, Inc. $HOOD

Coordinated Financial Services Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 4,300 shares of the company’s stock, valued at approximately $403,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HOOD. NBC Securities Inc. boosted its position in shares of Robinhood Markets by 155,600.0% in the 1st quarter. NBC Securities Inc. now owns 1,557 shares of the company’s stock valued at $64,000 after purchasing an additional 1,556 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock valued at $290,000 after purchasing an additional 265 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $277,000. GAMMA Investing LLC boosted its position in shares of Robinhood Markets by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 8,210 shares of the company’s stock valued at $342,000 after purchasing an additional 2,352 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Robinhood Markets by 58.6% in the 1st quarter. SG Americas Securities LLC now owns 95,368 shares of the company’s stock valued at $3,969,000 after purchasing an additional 35,250 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

HOOD opened at $152.46 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The business has a 50-day moving average of $117.92 and a 200-day moving average of $85.18. The company has a market capitalization of $135.49 billion, a PE ratio of 77.39, a price-to-earnings-growth ratio of 4.19 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly 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 return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the business earned $0.21 EPS. The business’s quarterly revenue was up 45.0% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the sale, the insider directly owned 94,454 shares of the company’s stock, valued at $9,531,353.14. This trade represents a 38.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,681,122 shares of company stock worth $618,215,681. 14.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HOOD has been the subject of a number of research reports. Mizuho raised their price objective on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. The Goldman Sachs Group raised their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods raised their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a research report on Thursday, July 31st. Piper Sandler restated an “overweight” rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Finally, Bank of America raised their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets currently 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.