HBW Advisory Services LLC Buys New Position in Robinhood Markets, Inc. $HOOD

Key Points

• HBW Advisory Services LLC acquired a new position in Robinhood Markets, buying 2,797 shares valued at around $262,000 during the 2nd quarter.
• Multiple institutional investors have increased or established stakes in Robinhood, with institutional ownership currently at approximately 93.27% of the stock.
• Recent analyst ratings have been positive, with price targets set as high as $145.00, and a consensus rating of "Moderate Buy" for the stock.

HBW Advisory Services LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,797 shares of the company's stock, valued at approximately $262,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Doliver Advisors LP bought a new stake in Robinhood Markets in the second quarter valued at approximately $577,000. Harbor Investment Advisory LLC boosted its holdings in Robinhood Markets by 18.8% in the second quarter. Harbor Investment Advisory LLC now owns 17,045 shares of the company's stock valued at $1,596,000 after acquiring an additional 2,700 shares during the last quarter. Kera Capital Partners Inc. boosted its holdings in Robinhood Markets by 5.7% in the second quarter. Kera Capital Partners Inc. now owns 108,463 shares of the company's stock valued at $10,155,000 after acquiring an additional 5,823 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new position in Robinhood Markets in the first quarter valued at approximately $1,103,000. Finally, Swedbank AB lifted its stake in Robinhood Markets by 15.7% in the first quarter. Swedbank AB now owns 298,931 shares of the company's stock valued at $12,442,000 after buying an additional 40,496 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. JMP Securities boosted their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Mizuho boosted their price target on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Cantor Fitzgerald boosted their price target on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Compass Point boosted their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $101.88.

Insiders Place Their Bets

In related news, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the sale, the director directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the 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 completion of the sale, the insider directly owned 94,454 shares of the company's stock, valued at $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 sold a total of 5,773,719 shares of company stock worth $589,293,510 in the last three months. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Down 2.3%

Shares of NASDAQ:HOOD opened at $115.03 on Monday. Robinhood Markets, Inc. has a twelve month low of $21.50 and a twelve month high of $123.44. The stock's 50 day moving average is $105.99 and its 200-day moving average is $73.80. The firm has a market capitalization of $102.22 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 4.11 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.Robinhood Markets's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. Equities research 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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