Focused Wealth Management Inc Buys Shares of 3,006 Robinhood Markets, Inc. $HOOD

Key Points

• Focused Wealth Management Inc has acquired 3,006 shares of Robinhood Markets, Inc. ($HOOD), valued at approximately $281,000.
• Institutional ownership of Robinhood is significant, with around 93.27% of the stock owned by various institutional investors and hedge funds.
• Analysts have mixed views on Robinhood, with eleven recommending a Buy rating, while the average target price stands at $101.88.

Focused Wealth Management Inc bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,006 shares of the company's stock, valued at approximately $281,000.

Several other institutional investors also recently modified their holdings of HOOD. Whipplewood Advisors LLC boosted its holdings in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management raised its position in Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the first quarter valued at about $30,000. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets during the first quarter worth about $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings 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 purchasing an additional 498 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research reports. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. JMP Securities upped their price target on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. KeyCorp lifted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Mizuho raised their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $101.88.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $124.89 on Tuesday. The business has a 50-day simple moving average of $108.90 and a 200 day simple moving average of $76.89. Robinhood Markets, Inc. has a one year low of $22.05 and a one year high of $126.64. The firm has a market capitalization of $110.99 billion, a price-to-earnings ratio of 63.40, a PEG ratio of 4.62 and a beta of 2.36.

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

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Quirk sold 60,113 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, 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 a total of 5,767,855 shares of company stock worth $588,837,174 in the last quarter. Insiders own 19.95% of the company's stock.

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.

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