CogentBlue Wealth Advisors LLC Takes $216,000 Position in Robinhood Markets, Inc. $HOOD

Key Points

• CogentBlue Wealth Advisors LLC acquired a new stake of 2,304 shares in Robinhood Markets, Inc. for approximately $216,000 during the second quarter, reflecting growing interest from institutional investors.
• Robinhood reported earnings of $0.42 per share for the latest quarter, surpassing analyst estimates of $0.30 and showing a revenue increase of 45.0% year-over-year, amounting to $989 million.
• The stock price of Robinhood decreased by 0.7% and has a current market cap of $108.22 billion, with a 52-week range between a low of $22.05 and a high of $130.07.

CogentBlue Wealth Advisors LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,304 shares of the company's stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its holdings in 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 purchasing an additional 508 shares during the last quarter. Hemington Wealth Management raised its holdings 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 last quarter. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the first quarter worth $30,000. ST Germain D J Co. Inc. acquired a new position in Robinhood Markets during the second quarter worth $72,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Robinhood Markets during the second quarter worth $74,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Down 0.7%

Shares of Robinhood Markets stock opened at $121.78 on Friday. The firm has a market cap of $108.22 billion, a P/E ratio of 61.82, a P/E/G ratio of 4.34 and a beta of 2.36. The business has a 50-day moving average price of $110.49 and a 200 day moving average price of $79.04. Robinhood Markets, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $130.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same period in the prior year, the company posted $0.21 EPS. The business's revenue for the quarter was up 45.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

HOOD has been the subject of several recent research reports. Barclays raised their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. The Goldman Sachs Group raised their price target on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Mizuho lifted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $104.06.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction on 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 sale, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681,462 shares of company stock worth $581,726,917. 14.47% of the stock is owned by insiders.

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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