Wilmington Savings Fund Society FSB Sells 4,573 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Robinhood Markets by 33.5%, selling 4,573 shares during the second quarter, leaving it with 9,093 shares valued at $851,000.
• Analysts have recently increased their price targets for Robinhood Markets, with Barclays raising it to $120.00 and Piper Sandler to $140.00, while the stock has a consensus rating of "Moderate Buy" and an average price target of $118.94.
• Robinhood Markets reported earnings of $0.42 EPS for the last quarter, exceeding estimates, with revenue of $989 million, a 45% increase year-over-year.

Wilmington Savings Fund Society FSB trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 33.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,093 shares of the company's stock after selling 4,573 shares during the period. Wilmington Savings Fund Society FSB's holdings in Robinhood Markets were worth $851,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. True Vision MN LLC increased its holdings in Robinhood Markets by 1.7% in the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company's stock valued at $642,000 after acquiring an additional 116 shares during the last quarter. Hemington Wealth Management increased its holdings in Robinhood Markets by 22.5% in the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company's stock valued at $72,000 after acquiring an additional 143 shares during the last quarter. Ballentine Partners LLC increased its holdings in Robinhood Markets by 2.3% in the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock valued at $620,000 after acquiring an additional 148 shares during the last quarter. REAP Financial Group LLC increased its holdings in Robinhood Markets by 44.1% in the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company's stock valued at $49,000 after acquiring an additional 160 shares during the last quarter. Finally, Cigna Investments Inc. New increased its holdings in Robinhood Markets by 2.7% in the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock valued at $280,000 after acquiring an additional 174 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HOOD shares. Barclays upped their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. JMP Securities increased their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "market outperform" rating in a report on Thursday, October 9th. Finally, Bank of America increased their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $131.44 on Friday. The company has a market cap of $116.81 billion, a P/E ratio of 66.72, a PEG ratio of 3.54 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The firm has a 50-day simple moving average of $120.95 and a two-hundred day simple moving average of $88.35.

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 (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 60,113 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the sale, the insider directly owned 94,454 shares of the company's stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The transaction was disclosed in a filing 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 dated Friday, October 3rd. The shares were sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the completion of the sale, the insider directly owned 565,949 shares of the company's stock, valued at approximately $83,952,874.66. This trade represents a 4.23% decrease in their ownership of the stock. 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 quarter. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Company 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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