SeaCrest Wealth Management LLC Has $3.14 Million Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• SeaCrest Wealth Management LLC increased its stake in Robinhood Markets by 79.1% in Q2, acquiring 14,811 shares to reach a total of 33,533 shares valued at approximately $3.14 million.
• Multiple analysts have raised their price targets for Robinhood Markets, with estimates now ranging from $85.00 to $145.00, reflecting a consensus rating of Moderate Buy.
• Insiders have sold a total of 5,767,855 shares of Robinhood stock in the last ninety days, including significant sales by CEO Vladimir Tenev and other executives.

SeaCrest Wealth Management LLC increased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 79.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,533 shares of the company's stock after buying an additional 14,811 shares during the quarter. SeaCrest Wealth Management LLC's holdings in Robinhood Markets were worth $3,140,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of HOOD. Whipplewood Advisors LLC grew its stake in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares in the last quarter. Hemington Wealth Management grew its stake 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. Wayfinding Financial LLC acquired a new stake in Robinhood Markets during the 1st quarter valued at approximately $30,000. Pandora Wealth Inc. acquired a new stake in Robinhood Markets during the 1st quarter valued at approximately $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Meyer Malka sold 1,093,288 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the sale, the director directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,767,855 shares of company stock valued at $588,837,174 over the last 90 days. 19.95% of the stock is owned by insiders.

Analyst Ratings Changes

HOOD has been the subject of several research reports. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Mizuho boosted their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Finally, Piper Sandler started coverage on shares of Robinhood Markets in a research report on Wednesday, September 10th. They set an "overweight" rating and a $120.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.88.

Robinhood Markets Stock Up 0.1%

Robinhood Markets stock traded up $0.11 during mid-day trading on Monday, hitting $124.89. 33,108,886 shares of the company's stock traded hands, compared to its average volume of 42,403,516. The firm has a 50 day moving average price of $108.40 and a 200 day moving average price of $76.32. The company has a market cap of $110.99 billion, a PE ratio of 63.40, a price-to-earnings-growth ratio of 4.62 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $22.05 and a one year high of $126.64.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 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 company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the previous year, the business earned $0.21 EPS. The company's quarterly revenue was up 45.0% compared to the same quarter last year. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.