4,608 Shares in Robinhood Markets, Inc. $HOOD Bought by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. has acquired a new stake in Robinhood Markets, Inc., purchasing 4,608 shares worth approximately $431,000 in the 2nd quarter.
• Institutional investors and hedge funds now own 93.27% of Robinhood's stock, with significant increases in holdings from firms like Vanguard Group Inc. and AGF Management Ltd..
• Robinhood reported quarterly earnings of $0.42 EPS, exceeding analysts' estimates, with a revenue of $989 million, reflecting a year-over-year growth of 45%.

Wesbanco Bank Inc. bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,608 shares of the company's stock, valued at approximately $431,000.

A number of other institutional investors have also modified their holdings of HOOD. Whipplewood Advisors LLC increased its position in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares during the period. Hemington Wealth Management increased its position in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the first quarter worth approximately $30,000. Pandora Wealth Inc. purchased a new position in shares of Robinhood Markets during the first quarter worth approximately $33,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after acquiring an additional 498 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

HOOD traded up $2.55 during trading on Tuesday, hitting $117.38. The stock had a trading volume of 36,566,786 shares, compared to its average volume of 39,525,248. The company has a market capitalization of $104.31 billion, a PE ratio of 59.58, a PEG ratio of 4.24 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $22.05 and a twelve month high of $123.44. The stock has a 50 day simple moving average of $106.94 and a two-hundred day simple moving average of $74.56.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the firm earned $0.21 earnings per share. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the sale, the director owned 3,976,234 shares of the company's stock, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,773,719 shares of company stock valued at $589,293,510. Company insiders own 19.95% of the company's stock.

Analyst Ratings Changes

HOOD has been the topic of several research reports. Barclays lifted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Citigroup lifted their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. JMP Securities lifted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Finally, Mizuho lifted their price objective 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. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $101.88.

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.