Ritholtz Wealth Management Increases Stock Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Ritholtz Wealth Management increased its holdings in Robinhood Markets by 43.3%, now owning 16,560 shares valued at approximately $1.55 million.
• Robinhood Markets exceeded analysts' expectations with $0.42 earnings per share for the quarter, compared to an expected $0.30, indicating strong financial performance.
• Insider trading activity showed significant sales, with insiders offloading over 5.1 million shares valued at approximately $567 million in the past ninety days.

Ritholtz Wealth Management increased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 43.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,560 shares of the company's stock after buying an additional 5,001 shares during the period. Ritholtz Wealth Management's holdings in Robinhood Markets were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC lifted its position in shares of Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock valued at $2,092,000 after buying an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock valued at $76,000 after buying an additional 1,186 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Robinhood Markets by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock valued at $677,000 after buying an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock valued at $799,000 after buying an additional 10,703 shares in the last quarter. Finally, Metavasi Capital LP lifted its position in shares of Robinhood Markets by 275.0% during the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company's stock valued at $3,122,000 after buying an additional 55,000 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Down 1.2%

Shares of HOOD opened at $129.91 on Friday. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86. The company has a market capitalization of $115.45 billion, a PE ratio of 65.94, a price-to-earnings-growth ratio of 3.47 and a beta of 2.42. The stock has a fifty day simple moving average of $121.26 and a two-hundred day simple moving average of $88.95.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the company earned $0.21 EPS. The company's revenue for the quarter was up 45.0% on a year-over-year basis. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HOOD shares. Morgan Stanley increased their target price on Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. Mizuho increased their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Piper Sandler reissued an "overweight" rating and issued a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Finally, KeyCorp increased 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. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $147.53, for a total value of $865,115.92. Following the completion of the sale, the chief technology officer directly owned 11,952 shares of the company's stock, valued at $1,763,278.56. This trade represents a 32.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was 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. This trade represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,181,462 shares of company stock worth $567,328,871. 14.47% of the stock is currently owned by company insiders.

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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