Ellevest Inc. Increases Stock Holdings in Robinhood Markets, Inc. $HOOD

Ellevest Inc. increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,662 shares of the company’s stock after buying an additional 683 shares during the quarter. Ellevest Inc.’s holdings in Robinhood Markets were worth $717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. WCM Investment Management LLC grew its stake in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Robinhood Markets during the 2nd quarter worth $951,479,000. Vanguard Group Inc. grew its stake in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. AGF Management Ltd. grew its stake in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Finally, Wealthquest Corp purchased a new position in Robinhood Markets during the 1st quarter worth $156,193,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Bank of America boosted their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. 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 research note on Tuesday, September 23rd. JMP Securities boosted their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Finally, CICC Research initiated coverage on Robinhood Markets in a research note on Monday, October 27th. They set an “outperform” rating and a $155.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $125.10.

Insider Buying and Selling

In related news, Director Meyer Malka sold 1,093,288 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the transaction, the insider directly owned 94,454 shares of the company’s stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,337,392 shares of company stock worth $397,124,959 in the last ninety days. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Stock Up 4.2%

Shares of HOOD stock opened at $142.48 on Thursday. The stock has a market cap of $126.62 billion, a PE ratio of 72.33, a price-to-earnings-growth ratio of 3.55 and a beta of 2.42. The business has a 50-day simple moving average of $129.11 and a 200-day simple moving average of $98.72. Robinhood Markets, Inc. has a 52-week low of $26.74 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.