Stratos Wealth Partners LTD. Invests $751,000 in Robinhood Markets, Inc. $HOOD

Key Points

• Stratos Wealth Partners LTD. invested approximately $751,000 in Robinhood Markets, acquiring 8,018 shares as part of a broader trend where institutional investors control about 93.27% of the company's stock.
• Robinhood reported strong quarterly earnings with $0.42 earnings per share, surpassing analyst estimates of $0.30, and revenue of $989 million, up 45% year-over-year.
• Wall Street analysts have raised their price targets for Robinhood, with JMP Securities now projecting a target of $170.00, reflecting a positive outlook for the company's performance.

Stratos Wealth Partners LTD. bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,018 shares of the company's stock, valued at approximately $751,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. Hemington Wealth Management boosted its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the 1st quarter valued at $30,000. Pandora Wealth Inc. bought a new stake in Robinhood Markets in the 1st quarter valued at $33,000. V Square Quantitative Management LLC acquired a new stake in Robinhood Markets in the 2nd quarter worth $36,000. Finally, Colonial Trust Advisors grew its position in Robinhood Markets by 125.0% in the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company's stock worth $37,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $127.22 on Thursday. The business's fifty day moving average price is $122.43 and its two-hundred day moving average price is $90.88. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The stock has a market capitalization of $113.06 billion, a price-to-earnings ratio of 64.58, a price-to-earnings-growth ratio of 3.48 and a beta of 2.42.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HOOD. JMP Securities increased their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday, October 9th. Citigroup raised their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Morgan Stanley upped their target price on Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 1st. Finally, Barclays lifted their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $118.94.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.97, for a total value of $22,493,250.00. Following the sale, the insider owned 591,887 shares in the company, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,763,124 shares of company stock valued at $524,708,595. 14.47% of the stock is owned by company insiders.

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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