Sagespring Wealth Partners LLC Raises Position in Robinhood Markets, Inc. $HOOD

Sagespring Wealth Partners LLC boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 52.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,400 shares of the company's stock after buying an additional 3,230 shares during the period. Sagespring Wealth Partners LLC's holdings in Robinhood Markets were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. TD Asset Management Inc increased its stake in Robinhood Markets by 20.9% during the 2nd quarter. TD Asset Management Inc now owns 390,839 shares of the company's stock valued at $36,594,000 after purchasing an additional 67,666 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Robinhood Markets by 67.7% during the 2nd quarter. Axxcess Wealth Management LLC now owns 28,910 shares of the company's stock valued at $2,707,000 after purchasing an additional 11,673 shares in the last quarter. Moran Wealth Management LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $371,000. Nadler Financial Group Inc. acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $361,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Robinhood Markets by 155.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,480 shares of the company's stock valued at $2,760,000 after acquiring an additional 17,943 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the sale, the chief technology officer owned 11,952 shares of the company's stock, valued at approximately $1,763,278.56. This trade represents a 32.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated 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 completion of the sale, the insider owned 565,949 shares in the company, valued at approximately $83,952,874.66. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,181,462 shares of company stock valued at $567,328,871 in the last 90 days. Corporate insiders own 14.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HOOD. Weiss Ratings reissued a "hold (c)" rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Needham & Company LLC increased their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Compass Point increased their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. KeyCorp increased their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Barclays increased their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.94.

Robinhood Markets Stock Performance

HOOD stock opened at $134.15 on Thursday. The firm has a market cap of $119.22 billion, a PE ratio of 68.10, a P/E/G ratio of 3.64 and a beta of 2.42. The firm's fifty day moving average is $120.55 and its 200 day moving average is $87.73. Robinhood Markets, Inc. has a one year low of $23.00 and a one year high of $153.86.

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

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