Simplicity Wealth LLC Has $613,000 Position in Robinhood Markets, Inc. $HOOD

Key Points

• Simplicity Wealth LLC substantially reduced its holdings in Robinhood Markets by 87.8% in Q2, bringing its total shares down to 6,548 valued at approximately $613,000.
• Institutional investors own 93.27% of Robinhood's stock, with notable increases in holdings from firms like Vanguard Group and AGF Management.
• Robinhood reported a 45% year-over-year revenue growth with earnings per share of $0.42, surpassing estimates by $0.12 in the latest quarterly report.

Simplicity Wealth LLC cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 87.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,548 shares of the company's stock after selling 47,246 shares during the quarter. Simplicity Wealth LLC's holdings in Robinhood Markets were worth $613,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HOOD. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth approximately $951,479,000. Vanguard Group Inc. grew its holdings in Robinhood Markets by 8.6% in the 1st 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 in the last quarter. AGF Management Ltd. grew its holdings in Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Wealthquest Corp acquired a new position in Robinhood Markets in the 1st quarter valued at $156,193,000. Finally, Altimeter Capital Management LP acquired a new position in Robinhood Markets in the 1st quarter valued at $120,103,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 0.5%

Shares of HOOD stock opened at $145.00 on Wednesday. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86. The company has a market cap of $128.86 billion, a P/E ratio of 73.60, a P/E/G ratio of 4.01 and a beta of 2.42. The business has a fifty 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 announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the company earned $0.21 EPS. Robinhood Markets's revenue for the quarter was up 45.0% on a year-over-year basis. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Robinhood Markets in a report on Saturday, September 27th. Needham & Company LLC upped their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Barclays upped their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. JMP Securities upped their target price on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Finally, KeyCorp upped their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus price target of $113.59.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. Insiders sold 5,675,598 shares of company stock worth $617,385,075 over the last quarter. 19.95% of the stock is currently owned by company insiders.

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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