Earned Wealth Advisors LLC Sells 296 Shares of Robinhood Markets, Inc. $HOOD

Earned Wealth Advisors LLC lowered its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,815 shares of the company’s stock after selling 296 shares during the period. Earned Wealth Advisors LLC’s holdings in Robinhood Markets were worth $544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of Robinhood Markets by 6.4% during the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after buying an additional 3,032 shares during the period. TD Private Client Wealth LLC boosted its holdings in Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after acquiring an additional 1,186 shares during the period. Wellington Management Group LLP boosted its holdings in Robinhood Markets by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after acquiring an additional 486 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after acquiring an additional 10,703 shares during the period. Finally, Metavasi Capital LP boosted its holdings in Robinhood Markets by 275.0% during the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock valued at $3,122,000 after acquiring an additional 55,000 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $133.11, for a total transaction of $55,684,971.18. 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 stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,377,523 shares of company stock worth $400,284,076 over the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of HOOD opened at $138.07 on Friday. The company has a 50 day moving average price of $126.23 and a 200-day moving average price of $95.52. The stock has a market capitalization of $122.70 billion, a PE ratio of 70.09, a PEG ratio of 3.76 and a beta of 2.42. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its 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. The company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.Robinhood Markets’s revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. JMP Securities boosted 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 report on Thursday, October 9th. Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. CICC Research started coverage on Robinhood Markets in a report on Monday. They issued an “outperform” rating and a $155.00 price target for the company. Finally, Citizens Jmp boosted their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “mkt outperform” rating in a report on Thursday, October 9th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.85.

About Robinhood Markets

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.