D.A. Davidson & CO. Acquires New Holdings in Robinhood Markets, Inc. $HOOD

D.A. Davidson & CO. acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, Holdings Channel.com reports. The firm acquired 19,556 shares of the company’s stock, valued at approximately $1,831,000.

A number of other institutional investors have also made changes to their positions in HOOD. Hemington Wealth Management increased its position in Robinhood Markets by 52.2% in 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 shares of Robinhood Markets during the first quarter worth approximately $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets during the first quarter worth approximately $33,000. V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets during the second quarter worth approximately $36,000. Finally, Colonial Trust Advisors lifted its holdings in shares of Robinhood Markets by 125.0% during the first quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Up 4.1%

HOOD opened at $139.79 on Monday. The stock has a market cap of $124.23 billion, a PE ratio of 70.96, a P/E/G ratio of 3.63 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 stock’s 50 day simple moving average is $123.41 and its 200-day simple moving average is $93.05.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly 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 firm had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. During the same period in the prior year, the business posted $0.21 earnings per share. The business’s revenue was up 45.0% compared to the same quarter last year. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total value of $3,708,500.00. Following the transaction, the insider owned 565,949 shares of the company’s stock, valued at approximately $83,952,874.66. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,175,598 shares of company stock valued at $579,779,430. 19.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. KeyCorp upped their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Morgan Stanley upped their price target on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Needham & Company LLC upped their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Finally, The Goldman Sachs Group upped their price target on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Twelve research 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’s stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $118.94.

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.