Coordinated Financial Services Inc. Takes $403,000 Position in Robinhood Markets, Inc. $HOOD

Key Points

• Coordinated Financial Services Inc. has made a new investment in Robinhood Markets, Inc., purchasing 4,300 shares valued at approximately $403,000.
• Various institutional investors have increased their stakes in Robinhood Markets, with 93.27% of the stock currently owned by institutional investors.
• Recent analyst upgrades have raised Robinhood's price targets, with a consensus target price of $118.94 and an average rating of "Moderate Buy".

Coordinated Financial Services Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 4,300 shares of the company's stock, valued at approximately $403,000.

Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC increased its holdings in shares of Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock valued at $2,092,000 after acquiring an additional 3,032 shares during the last quarter. TD Private Client Wealth LLC grew its stake in Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after buying an additional 1,186 shares during the last quarter. Wellington Management Group LLP grew its stake in Robinhood Markets by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after buying an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after buying an additional 10,703 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new position in Robinhood Markets during the 1st quarter worth $277,000. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681,122 shares of company stock worth $618,215,681. Corporate insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HOOD. Cantor Fitzgerald upped their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods upped their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Bank of America upped their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Compass Point increased their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, JMP Securities increased their price target on Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a research note on Thursday. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.94.

Robinhood Markets Stock Up 1.1%

Shares of Robinhood Markets stock opened at $152.46 on Friday. The business has a fifty day simple moving average of $117.92 and a 200-day simple moving average of $85.18. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The firm has a market cap of $135.49 billion, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 4.19 and a beta of 2.42.

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 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 analysts' expectations of $893.93 million. During the same quarter last year, the business posted $0.21 earnings per share. The company's quarterly revenue was up 45.0% on a year-over-year basis. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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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