Simplicity Wealth LLC Sells 47,246 Shares of Robinhood Markets, Inc. $HOOD

Simplicity Wealth LLC cut its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 87.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,548 shares of the company’s stock after selling 47,246 shares during the period. Simplicity Wealth LLC’s holdings in Robinhood Markets were worth $613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Highland Capital Management LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $251,000. Wealthcare Advisory Partners LLC increased its stake in shares of Robinhood Markets by 18.5% in the second quarter. Wealthcare Advisory Partners LLC now owns 7,871 shares of the company’s stock valued at $737,000 after buying an additional 1,227 shares during the period. Checchi Capital Advisers LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $466,000. NTV Asset Management LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $5,291,000. Finally, 111 Capital acquired a new stake in shares of Robinhood Markets in the second quarter valued at about $642,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HOOD shares. Needham & Company LLC increased their price target on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Barclays increased their price target on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Citigroup increased their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Morgan Stanley increased their price target 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, The Goldman Sachs Group raised their target price on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.59.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 1,568,421 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the sale, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,675,598 shares of company stock worth $617,385,075 over the last three months. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 0.5%

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 stock’s 50 day moving average is $116.04 and its 200-day moving average is $84.00. The firm has a market capitalization of $128.86 billion, a PE ratio of 73.60, a P/E/G ratio of 4.01 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 for the quarter, compared to analyst estimates of $893.93 million. During the same quarter last year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.