True Wealth Design LLC Trims Stake in Robinhood Markets, Inc. $HOOD

True Wealth Design LLC lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 24.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,432 shares of the company’s stock after selling 802 shares during the quarter. True Wealth Design LLC’s holdings in Robinhood Markets were worth $228,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HOOD. Hantz Financial Services Inc. grew its stake in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after buying an additional 148 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Pandora Wealth Inc. purchased a new position in Robinhood Markets during the 1st quarter valued at $33,000. V Square Quantitative Management LLC bought a new position in Robinhood Markets in the 2nd quarter valued at $36,000. Finally, Colonial Trust Advisors increased its stake 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.

Robinhood Markets Stock Up 2.6%

Shares of NASDAQ:HOOD opened at $130.36 on Friday. The firm has a 50 day moving average of $130.11 and a 200 day moving average of $99.54. The company has a market capitalization of $115.85 billion, a price-to-earnings ratio of 54.09, a price-to-earnings-growth ratio of 3.22 and a beta of 2.42. Robinhood Markets, Inc. has a 52 week low of $29.21 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a return on equity of 22.13% and a net margin of 52.19%.The business’s revenue was up 100.0% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on 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 is available in the SEC filing. Insiders sold a total of 3,385,742 shares of company stock valued at $403,923,453 in the last three months. 14.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Needham & Company LLC boosted their price objective 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. Zacks Research downgraded shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Mizuho lifted their price target on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, JMP Securities increased their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $132.65.

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.