Robinhood Markets, Inc. $HOOD Shares Purchased by Venturi Wealth Management LLC

Key Points

• Venturi Wealth Management LLC increased its stake in Robinhood Markets by 18.3% during the second quarter, owning a total of 27,176 shares valued at approximately $2.54 million.
• Robinhood reported a 45% year-over-year revenue increase with earnings per share of $0.42, surpassing analysts' expectations.
• A number of analysts have raised their price targets for Robinhood, with prices ranging from $96 to $152 and an average rating of "Moderate Buy".

Venturi Wealth Management LLC boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,176 shares of the company's stock after buying an additional 4,196 shares during the quarter. Venturi Wealth Management LLC's holdings in Robinhood Markets were worth $2,544,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Robinhood Markets in the 2nd quarter worth $36,000. Ameritas Advisory Services LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $56,000. Hemington Wealth Management raised its stake in shares of Robinhood Markets by 52.2% in 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. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets during the 1st quarter valued at about $30,000. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $72,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

HOOD stock opened at $145.00 on Wednesday. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86. The firm has a market cap of $128.86 billion, a PE ratio of 73.60, a P/E/G ratio of 4.01 and a beta of 2.42. The firm has a 50 day simple moving average of $116.04 and a 200 day simple moving average of $84.00.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $893.93 million. During the same period in the prior 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, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Compass Point boosted their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group upped their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Morgan Stanley upped their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 1st. JMP Securities upped their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Finally, Citigroup upped their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $113.59.

Insider Buying and Selling at Robinhood Markets

In related news, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction 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 represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the sale, the insider directly owned 565,949 shares of the company's stock, valued at approximately $83,952,874.66. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,675,598 shares of company stock valued at $617,385,075. Corporate insiders own 19.95% 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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