Wealth Enhancement Advisory Services LLC Raises Stake in Robinhood Markets, Inc. $HOOD

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 174.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 289,476 shares of the company’s stock after acquiring an additional 184,118 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Robinhood Markets were worth $41,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CAP Partners LLC purchased a new stake in Robinhood Markets during the third quarter valued at about $202,000. Formidable Asset Management LLC bought a new stake in shares of Robinhood Markets in the 3rd quarter valued at about $481,000. Glass Jacobson Investment Advisors llc purchased a new stake in Robinhood Markets during the 3rd quarter valued at about $115,000. Amalgamated Bank grew its position in Robinhood Markets by 263.8% during the 3rd quarter. Amalgamated Bank now owns 148,728 shares of the company’s stock worth $21,295,000 after acquiring an additional 107,842 shares during the last quarter. Finally, Stenger Family Office LLC bought a new stake in Robinhood Markets in the third quarter valued at approximately $1,887,000. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HOOD. The Goldman Sachs Group reiterated a “buy” rating on shares of Robinhood Markets in a report on Monday, January 5th. Mizuho increased their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Argus assumed coverage on Robinhood Markets in a research report on Friday, January 9th. They issued a “buy” rating and a $145.00 price target on the stock. Zacks Research lowered shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Citizens Jmp lifted their target price on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.62.

Robinhood Markets Stock Up 0.2%

NASDAQ HOOD opened at $105.95 on Wednesday. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The company has a market capitalization of $95.27 billion, a P/E ratio of 43.96, a price-to-earnings-growth ratio of 1.73 and a beta of 2.44. The stock’s 50-day moving average price is $120.10 and its 200-day moving average price is $119.59.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 100.0% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.59, for a total value of $713,003.76. Following the sale, the chief technology officer directly owned 14,997 shares of the company’s stock, valued at approximately $1,823,485.23. The trade was a 28.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $121.58, for a total transaction of $1,215,800.00. Following the sale, the insider directly owned 403,612 shares in the company, valued at approximately $49,071,146.96. The trade was a 2.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,878,425 shares of company stock valued at $358,332,025. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.