Private Trust Co. NA Grows Holdings in Robinhood Markets, Inc. $HOOD

Private Trust Co. NA grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 64.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,543 shares of the company's stock after purchasing an additional 2,953 shares during the quarter. Private Trust Co. NA's holdings in Robinhood Markets were worth $706,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HOOD. V Square Quantitative Management LLC bought a new position in Robinhood Markets in the 2nd quarter worth about $36,000. REAP Financial Group LLC grew its stake in Robinhood Markets by 44.1% in the second quarter. REAP Financial Group LLC now owns 523 shares of the company's stock worth $49,000 after purchasing an additional 160 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Robinhood Markets in the second quarter worth approximately $56,000. Hemington Wealth Management raised its position in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $129.91 on Friday. Robinhood Markets, Inc. has a 1-year low of $23.00 and a 1-year high of $153.86. The business has a fifty day moving average price of $121.26 and a 200-day moving average price of $89.28. The stock has a market capitalization of $115.45 billion, a price-to-earnings ratio of 65.94, a PEG ratio of 3.43 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 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The company 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 firm's revenue was up 45.0% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HOOD. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Piper Sandler reiterated an "overweight" rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Weiss Ratings restated a "hold (c)" rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Finally, Citizens Jmp upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a "mkt outperform" rating in a research note on Thursday, October 9th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $118.94.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction on 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. Insiders sold 5,181,462 shares of company stock worth $567,328,871 over the last ninety days. Company insiders own 14.47% of the company's stock.

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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