C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $227,000 in Robinhood Markets, Inc. $HOOD

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,425 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds also recently modified their holdings of HOOD. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Robinhood Markets by 21.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,676 shares of the company’s stock worth $112,000 after purchasing an additional 478 shares during the period. Amalgamated Bank lifted its holdings in shares of Robinhood Markets by 2.3% during the first quarter. Amalgamated Bank now owns 35,704 shares of the company’s stock worth $1,486,000 after purchasing an additional 806 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Robinhood Markets during the first quarter worth $436,000. Private Trust Co. NA lifted its holdings in shares of Robinhood Markets by 8,726.9% during the first quarter. Private Trust Co. NA now owns 4,590 shares of the company’s stock worth $191,000 after purchasing an additional 4,538 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Robinhood Markets during the first quarter worth $3,725,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 6.3%

HOOD stock opened at $146.78 on Monday. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86. The firm has a market cap of $130.44 billion, a price-to-earnings ratio of 74.51, a PEG ratio of 3.81 and a beta of 2.42. The company’s fifty day simple moving average is $126.98 and its 200 day simple moving average is $96.99.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Citizens Jmp lifted their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “mkt outperform” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Mizuho boosted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Finally, Loop Capital set a $161.00 target price on shares of Robinhood Markets in a report on Monday, October 27th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $125.10.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $148.34, for a total value of $3,708,500.00. Following the completion of the sale, the insider directly owned 565,949 shares in the company, valued at $83,952,874.66. This trade represents a 4.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $133.11, for a total value of $55,684,971.18. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,352,523 shares of company stock worth $397,678,326 over the last 90 days. 19.95% of the stock is owned by company insiders.

Robinhood Markets 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.