Whipplewood Advisors LLC Has $489,000 Holdings in Robinhood Markets, Inc. $HOOD

Whipplewood Advisors LLC grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 772.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,218 shares of the company’s stock after acquiring an additional 4,620 shares during the period. Whipplewood Advisors LLC’s holdings in Robinhood Markets were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Hemington Wealth Management grew its stake in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the last quarter. Wayfinding Financial LLC bought a new position in Robinhood Markets during the 1st quarter worth $30,000. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets in the first quarter valued at about $33,000. V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets in the second quarter valued at about $36,000. Finally, Colonial Trust Advisors grew its stake in shares of Robinhood Markets by 125.0% in the first quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HOOD shares. Barclays lifted their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Bank of America upped their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. JMP Securities increased their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Needham & Company LLC boosted their target price 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. Finally, Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $118.94.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $139.79 on Friday. Robinhood Markets, Inc. has a 52 week low of $23.00 and a 52 week high of $153.86. The firm’s fifty day moving average is $123.41 and its 200-day moving average is $92.70. The firm has a market cap of $124.23 billion, a P/E ratio of 70.96, a P/E/G ratio of 3.63 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results 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. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. Robinhood Markets’s revenue for the quarter was up 45.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total value of $55,684,971.18. The disclosure for this sale can be found here. Insiders have sold 5,175,598 shares of company stock worth $579,779,430 over the last quarter. 14.47% of the stock is owned by company insiders.

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.