Independent Solutions Wealth Management LLC Invests $5.05 Million in Robinhood Markets, Inc. $HOOD

Key Points

• Independent Solutions Wealth Management LLC has invested approximately $5.05 million in Robinhood Markets by purchasing 53,924 shares, making it the fund's 28th largest holding.
• Insiders at Robinhood sold a total of 5.65 million shares valued at about $613.68 million within the last quarter, indicating significant insider activity.
• Robinhood reported earnings of $0.42 per share for the last quarter, beating estimates and achieving a revenue of $989 million, up 45% year-over-year.

Independent Solutions Wealth Management LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 53,924 shares of the company's stock, valued at approximately $5,049,000. Robinhood Markets makes up 1.0% of Independent Solutions Wealth Management LLC's portfolio, making the stock its 28th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Hemington Wealth Management raised its position in Robinhood Markets by 52.2% in the 1st 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 bought a new position in Robinhood Markets in the 1st quarter worth approximately $30,000. Pandora Wealth Inc. bought a new position in Robinhood Markets in the 1st quarter worth approximately $33,000. V Square Quantitative Management LLC bought a new position in Robinhood Markets in the 2nd quarter worth approximately $36,000. Finally, Colonial Trust Advisors raised its position in Robinhood Markets by 125.0% in the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company's stock worth $37,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,650,598 shares of company stock valued at $613,676,575 in the last quarter. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Trading Down 3.0%

Shares of NASDAQ HOOD opened at $144.26 on Tuesday. The firm has a market cap of $128.20 billion, a PE ratio of 73.23, a PEG ratio of 4.13 and a beta of 2.42. Robinhood Markets, Inc. has a 1-year low of $22.72 and a 1-year high of $153.86. The company has a fifty day moving average price of $115.20 and a 200 day moving average price of $83.57.

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, topping analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 EPS. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HOOD. Mizuho boosted their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Needham & Company LLC upped their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Citigroup upped their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Tuesday, September 23rd. Redburn Atlantic reiterated a "sell" rating and set a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Finally, Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $113.59.

Robinhood Markets Company 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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