Wealthedge Investment Advisors LLC Invests $373,000 in Robinhood Markets, Inc. $HOOD

Key Points

• Wealthedge Investment Advisors LLC has acquired a new stake in Robinhood Markets, purchasing 8,967 shares valued at approximately $373,000 in the 1st quarter.
• Insiders of Robinhood sold a total of 4,644,685 shares worth $430,085,957 in the last ninety days, while insider Daniel Gallagher, Jr. sold 25,000 shares, reducing his ownership by 4.22%.
• Robinhood Markets reported earnings of $0.42 per share for the last quarter, exceeding analysts' expectations, with revenue of $989 million, a 45% increase compared to the same period last year.

Wealthedge Investment Advisors LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,967 shares of the company's stock, valued at approximately $373,000.

Other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its position in shares of Robinhood Markets by 184.4% in the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after buying an additional 1,186 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock valued at $799,000 after acquiring an additional 10,703 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in Robinhood Markets during the 1st quarter valued at approximately $277,000. Burns Matteson Capital Management LLC acquired a new stake in Robinhood Markets during the 1st quarter valued at approximately $495,000. Finally, Deutsche Bank AG lifted its stake in Robinhood Markets by 137.6% during the 1st quarter. Deutsche Bank AG now owns 1,761,767 shares of the company's stock valued at $73,325,000 after acquiring an additional 1,020,286 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 10,518 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $100.10, for a total value of $1,052,851.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $104.23, for a total transaction of $2,605,750.00. Following the completion of the sale, the insider directly owned 566,887 shares of the company's stock, valued at approximately $59,086,632.01. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,644,685 shares of company stock worth $430,085,957 in the last 90 days. 19.95% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on HOOD shares. Needham & Company LLC lifted their price objective 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. Citigroup lifted their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Mizuho lifted their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $0.85 on Monday, hitting $115.02. The company had a trading volume of 35,384,724 shares, compared to its average volume of 41,671,664. The company has a market capitalization of $102.21 billion, a PE ratio of 58.39, a PEG ratio of 4.35 and a beta of 2.36. The company's fifty day moving average price is $95.36 and its 200-day moving average price is $66.35. Robinhood Markets, Inc. has a 12-month low of $18.71 and a 12-month high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm's revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.