Robinhood Markets, Inc. $HOOD Shares Purchased by Nwam LLC

Nwam LLC raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1,068.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,562 shares of the company’s stock after buying an additional 49,892 shares during the period. Nwam LLC’s holdings in Robinhood Markets were worth $5,471,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oarsman Capital Inc. acquired a new position in Robinhood Markets during the 2nd quarter worth $348,000. ICONIQ Capital LLC increased its holdings in shares of Robinhood Markets by 10.5% in the 2nd quarter. ICONIQ Capital LLC now owns 1,622,397 shares of the company’s stock worth $162,694,000 after acquiring an additional 154,321 shares during the period. New Mexico Educational Retirement Board boosted its position in shares of Robinhood Markets by 8.9% during the second quarter. New Mexico Educational Retirement Board now owns 39,300 shares of the company’s stock worth $3,941,000 after buying an additional 3,200 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in Robinhood Markets during the 2nd quarter worth $1,438,000. Finally, Wellington Management Group LLP raised its stake in shares of Robinhood Markets by 37.1% during the second quarter. Wellington Management Group LLP now owns 786,318 shares of the company’s stock valued at $78,852,000 after purchasing an additional 212,855 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 50,317 shares of Robinhood Markets stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $96.80, for a total transaction of $4,870,685.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Tenev sold 375,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $116.17, for a total transaction of $43,563,750.00. Following the sale, the chief executive officer directly owned 375,000 shares in the company, valued at approximately $43,563,750. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 612,704 shares of company stock worth $66,675,612 in the last quarter. Corporate insiders own 13.48% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of several research analyst reports. Sanford C. Bernstein raised their target price on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Zacks Research upgraded shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Citizens Jmp reiterated a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a research note on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, June 24th. Finally, Cantor Fitzgerald cut their target price on Robinhood Markets from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.65.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $104.81 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86. The stock has a market capitalization of $94.23 billion, a price-to-earnings ratio of 46.17, a PEG ratio of 1.90 and a beta of 2.35. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $101.44 and its 200 day simple moving average is $87.24.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.Robinhood Markets’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 2.04 earnings per share for the current fiscal year.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.