Ascent Group LLC Buys Shares of 3,661 Robinhood Markets, Inc. $HOOD

Key Points

• Ascent Group LLC has acquired 3,661 shares of Robinhood Markets, Inc. (NASDAQ: HOOD) valued at approximately $343,000 during the second quarter, according to its 13F filing with the SEC.
• Robinhood reported earnings of $0.42 per share for the last quarter, exceeding analyst expectations of $0.30, with revenue of $989 million—up 45% year-over-year.
• Institutional investors control 93.27% of Robinhood's stock, indicating significant confidence in the company's growth prospects among major financial stakeholders.

Ascent Group LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,661 shares of the company's stock, valued at approximately $343,000.

A number of other hedge funds have also made changes to their positions in the stock. Hemington Wealth Management boosted its position in 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 purchasing an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the first quarter worth $30,000. Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets in the first quarter worth $33,000. V Square Quantitative Management LLC acquired a new stake in shares of Robinhood Markets in the second quarter worth $36,000. Finally, Colonial Trust Advisors raised its holdings in Robinhood Markets by 125.0% in the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company's stock worth $37,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $145.00 on Wednesday. The company has a 50-day moving average of $116.04 and a 200-day moving average of $84.00. The company has a market capitalization of $128.86 billion, a price-to-earnings ratio of 73.60, a PEG ratio of 4.01 and a beta of 2.42. Robinhood Markets, Inc. has a 52 week low of $23.00 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. The company's quarterly revenue was up 45.0% compared to the same quarter last year. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

HOOD has been the topic of several recent analyst reports. Bank of America lifted their target price on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Piper Sandler restated an "overweight" rating and set a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Barclays increased their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Compass Point upped their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a report on Saturday, September 27th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.59.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $124.13, for a total value of $727,898.32. Following the sale, the chief technology officer owned 17,816 shares of the company's stock, valued at $2,211,500.08. The trade was a 24.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction 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 directly owned 94,454 shares of the company's stock, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,675,598 shares of company stock worth $617,385,075 over the last quarter. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Profile

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.

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