Robinhood Markets, Inc. $HOOD Shares Acquired by Whittier Trust Co.

Whittier Trust Co. grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,695 shares of the company’s stock after acquiring an additional 234 shares during the quarter. Whittier Trust Co.’s holdings in Robinhood Markets were worth $1,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of Robinhood Markets by 3,615.7% in the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets during the 2nd quarter worth about $951,479,000. AGF Management Ltd. increased its position in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after purchasing an additional 131,620 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HOOD. KeyCorp raised their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. JMP Securities raised their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. Citigroup raised their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Cantor Fitzgerald raised their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley raised their price objective on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Twelve 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $127.22 on Thursday. The business has a 50-day moving average of $122.43 and a 200 day moving average of $90.88. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86. The stock has a market capitalization of $113.06 billion, a price-to-earnings ratio of 64.58, a price-to-earnings-growth ratio of 3.48 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the transaction, the insider owned 94,454 shares of the company’s stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred 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. Insiders have sold 4,763,124 shares of company stock valued at $524,708,595 over the last 90 days. Insiders own 14.47% of the company’s stock.

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.