Sequoia Financial Advisors LLC Grows Stock Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Sequoia Financial Advisors LLC increased its stake in Robinhood Markets by 36.4% in the 2nd quarter, owning a total of 14,226 shares worth approximately $1.33 million.
• Other institutional investors, including Vanguard Group and AGF Management, also expanded their positions in Robinhood, which is currently 93.27% owned by institutional investors.
• Analysts have raised price targets for Robinhood's stock, with Citigroup setting a target of $135.00 and a consensus rating of "Moderate Buy."

Sequoia Financial Advisors LLC boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 36.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,226 shares of the company's stock after buying an additional 3,800 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Robinhood Markets were worth $1,332,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Robinhood Markets in the second quarter worth approximately $951,479,000. AGF Management Ltd. boosted its position in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock worth $201,913,000 after purchasing an additional 131,620 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Robinhood Markets by 4.2% in the first quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock worth $169,035,000 after purchasing an additional 163,823 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction 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 of the company's stock, valued at $413,011,425.58. This trade represents a 21.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,181,462 shares of company stock valued at $567,328,871 over the last ninety days. Corporate insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup upped their price target 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. Barclays upped their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. KeyCorp upped their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Needham & Company LLC upped their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Finally, Mizuho boosted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.94.

Robinhood Markets Stock Down 2.0%

HOOD stock opened at $131.44 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 fifty day simple moving average of $120.95 and a two-hundred day simple moving average of $88.35. The firm has a market capitalization of $116.81 billion, a P/E ratio of 66.72, a price-to-earnings-growth ratio of 3.54 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data 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 quarter last year, the business earned $0.21 earnings per share. Robinhood Markets's quarterly revenue was up 45.0% compared to the same quarter last year. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.

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