IFP Advisors Inc Buys 18,047 Shares of Robinhood Markets, Inc. $HOOD

IFP Advisors Inc lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 261.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,962 shares of the company's stock after acquiring an additional 18,047 shares during the period. IFP Advisors Inc's holdings in Robinhood Markets were worth $2,337,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Callan Family Office LLC bought a new position in shares of Robinhood Markets in the second quarter worth $1,151,000. Blair William & Co. IL bought a new position in shares of Robinhood Markets in the second quarter worth $14,547,000. GFG Capital LLC bought a new position in shares of Robinhood Markets in the second quarter worth $10,221,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Robinhood Markets in the second quarter worth $75,000. Finally, US Bancorp DE boosted its stake in Robinhood Markets by 139.5% during the second quarter. US Bancorp DE now owns 72,195 shares of the company's stock valued at $6,760,000 after buying an additional 42,053 shares during the period. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

HOOD has been the subject of several research analyst reports. KeyCorp lifted their price objective on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Piper Sandler reissued an "overweight" rating and set a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Robinhood Markets in a research note on Wednesday. Barclays lifted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Citigroup lifted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.94.

Robinhood Markets Stock Down 8.9%

NASDAQ HOOD opened at $138.96 on Friday. The stock's 50-day simple moving average is $118.70 and its two-hundred day simple moving average is $86.09. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86. The company has a market capitalization of $123.49 billion, a price-to-earnings ratio of 70.54, a PEG ratio of 3.86 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the business posted $0.21 earnings per share. The company's revenue for the quarter was up 45.0% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction dated 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 transaction, the director owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Wednesday, October 1st. The stock was 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. Insiders have sold a total of 5,681,122 shares of company stock worth $618,215,681 in the last ninety days. Corporate insiders own 14.47% 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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