Wedmont Private Capital Grows Position in Robinhood Markets, Inc. $HOOD

Key Points

• Wedmont Private Capital increased its holdings in Robinhood Markets, Inc. by 102.9% in Q2, owning 25,206 shares valued at approximately $2.38 million.
• Institutional investors and hedge funds now own 93.27% of Robinhood's stock, highlighting strong institutional interest in the company.
• Robinhood reported a 45% increase in revenue year-over-year, with earnings per share of $0.42, exceeding analyst expectations of $0.30.

Wedmont Private Capital grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 102.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,206 shares of the company's stock after purchasing an additional 12,782 shares during the period. Wedmont Private Capital's holdings in Robinhood Markets were worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC increased its stake in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after buying an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets during the first quarter valued at about $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets during the first quarter valued at about $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after buying an additional 498 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. KeyCorp lifted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Compass Point lifted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. JMP Securities lifted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Finally, Piper Sandler initiated coverage on shares of Robinhood Markets in a report on Wednesday, September 10th. They issued an "overweight" rating and a $120.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.88.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were 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 in the company, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,767,855 shares of company stock valued at $588,837,174. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $3.87 on Friday, reaching $124.78. 202,254,907 shares of the company's stock traded hands, compared to its average volume of 37,834,256. Robinhood Markets, Inc. has a 12 month low of $22.05 and a 12 month high of $125.18. The stock has a 50-day simple moving average of $108.40 and a 200 day simple moving average of $76.11. The stock has a market cap of $110.89 billion, a PE ratio of 63.34, a P/E/G ratio of 4.62 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same period last year, the business earned $0.21 earnings per share. The business's quarterly revenue was up 45.0% on a year-over-year basis. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.