Rockline Wealth Management LLC Makes New $226,000 Investment in Robinhood Markets, Inc. $HOOD

Rockline Wealth Management LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,413 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. HighTower Advisors LLC boosted its holdings in Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after acquiring an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after buying an additional 1,186 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after acquiring an additional 486 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock worth $799,000 after purchasing an additional 10,703 shares during the period. Finally, Metavasi Capital LP raised its stake in shares of Robinhood Markets by 275.0% during the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock valued at $3,122,000 after buying an additional 55,000 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $147.08 on Tuesday. The stock’s 50 day simple moving average is $127.76 and its 200-day simple moving average is $97.74. The stock has a market cap of $130.71 billion, a P/E ratio of 74.66, a P/E/G ratio of 3.81 and a beta of 2.42. Robinhood Markets, Inc. has a 1-year low of $23.54 and a 1-year high of $153.86.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $146.91, for a total value of $861,480.24. Following the completion of the transaction, the chief technology officer directly owned 6,088 shares in the company, valued at approximately $894,388.08. This represents a 49.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 60,113 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were 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 owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,312,392 shares of company stock worth $393,476,209. 19.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HOOD shares. Mizuho lifted their price target on Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Keefe, Bruyette & Woods lifted 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. Needham & Company LLC raised their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Bank of America raised their target price on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, JMP Securities raised their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.10.

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.