3,983 Shares in Robinhood Markets, Inc. $HOOD Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,983 shares of the company’s stock, valued at approximately $373,000.

Other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after purchasing an additional 3,032 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock worth $76,000 after purchasing an additional 1,186 shares during the last quarter. Wellington Management Group LLP lifted its stake in Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after purchasing an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock worth $799,000 after purchasing an additional 10,703 shares during the last quarter. Finally, Metavasi Capital LP lifted its stake in Robinhood Markets by 275.0% in the first quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock worth $3,122,000 after purchasing an additional 55,000 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on HOOD. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. KeyCorp upped their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. JMP Securities upped their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Mizuho upped their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Finally, Morgan Stanley upped their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.94.

Robinhood Markets Price Performance

HOOD stock opened at $127.22 on Thursday. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The company has a market cap of $113.06 billion, a P/E ratio of 64.58, a PEG ratio of 3.48 and a beta of 2.42. The firm has a 50-day moving average of $122.43 and a 200 day moving average of $90.88.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the firm earned $0.21 earnings per share. Robinhood Markets’s revenue was up 45.0% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 60,113 shares of the 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 transaction, the insider directly owned 94,454 shares of the company’s stock, valued at $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. Insiders sold 4,763,124 shares of company stock valued at $524,708,595 over the last quarter. 14.47% of the stock is currently owned by insiders.

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.