WD Rutherford LLC Has $2.49 Million Position in Robinhood Markets, Inc. $HOOD

Key Points

• WD Rutherford LLC increased its position in Robinhood Markets, Inc. by 43.0% during the second quarter, bringing their total holdings to $2.49 million based on the latest SEC filing.
• Robinhood Markets reported $0.42 earnings per share for the quarter, surpassing analysts' expectations of $0.30, with revenue reaching $989 million, a 45.0% increase from the same quarter last year.
• Institutional investors hold a significant share in Robinhood, with 93.27% of the company's stock currently owned by various institutional funds.

WD Rutherford LLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 43.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,579 shares of the company's stock after acquiring an additional 7,998 shares during the quarter. WD Rutherford LLC's holdings in Robinhood Markets were worth $2,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HOOD. CogentBlue Wealth Advisors LLC bought a new stake in Robinhood Markets in the 2nd quarter valued at $216,000. Tempus Wealth Planning LLC acquired a new position in Robinhood Markets during the 2nd quarter valued at about $639,000. Diversified Enterprises LLC acquired a new position in Robinhood Markets during the 2nd quarter valued at about $248,000. West Branch Capital LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $94,000. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Robinhood Markets in the 2nd quarter valued at about $72,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Down 0.7%

NASDAQ HOOD opened at $121.78 on Friday. The business has a 50 day moving average price of $110.49 and a 200-day moving average price of $79.04. Robinhood Markets, Inc. has a 52 week low of $22.05 and a 52 week high of $130.07. The company has a market cap of $108.22 billion, a price-to-earnings ratio of 61.82, a P/E/G ratio of 4.34 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) 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 quarter in the prior year, the company posted $0.21 earnings per share. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, insider Steven M. Quirk sold 60,113 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the sale, the insider owned 94,454 shares in the company, valued at approximately $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $124.13, for a total value of $727,898.32. Following the completion of the transaction, the chief technology officer directly owned 17,816 shares in the company, valued at approximately $2,211,500.08. This represents a 24.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,462 shares of company stock valued at $581,726,917 in the last three months. Insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft increased their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Morgan Stanley increased their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Citigroup increased their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Finally, Mizuho raised their price target on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.06.

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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