3,769 Shares in Robinhood Markets, Inc. $HOOD Bought by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,769 shares of the company’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Robinhood Markets during the 2nd quarter worth about $36,000. Ameritas Advisory Services LLC acquired a new position in Robinhood Markets during the 2nd quarter worth about $56,000. Hemington Wealth Management lifted its holdings in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the 1st quarter worth about $30,000. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at about $72,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HOOD. Barclays boosted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Compass Point boosted their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Cantor Fitzgerald boosted their price objective on Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Citigroup boosted their price objective on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Morgan Stanley boosted their price objective 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. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.94.

Robinhood Markets Stock Performance

HOOD stock opened at $152.46 on Friday. The stock’s 50 day simple moving average is $117.92 and its 200 day simple moving average is $85.18. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The company has a market cap of $135.49 billion, a P/E ratio of 77.39, a price-to-earnings-growth ratio of 4.19 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping 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 business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the business earned $0.21 EPS. The firm’s revenue for the quarter was up 45.0% on a year-over-year basis. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $147.53, for a total transaction of $865,115.92. Following the transaction, the chief technology officer owned 11,952 shares of the company’s stock, valued at $1,763,278.56. The trade was a 32.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681,122 shares of company stock valued at $618,215,681. Corporate insiders own 14.47% of the company’s stock.

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.