Harold Davidson & Associates Inc. Takes $1.68 Million Position in Robinhood Markets, Inc. $HOOD

Harold Davidson & Associates Inc. bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, HoldingsChannel.com reports. The firm bought 11,697 shares of the company’s stock, valued at approximately $1,675,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Wealth LLC grew its stake in Robinhood Markets by 166.1% in the third quarter. NewEdge Wealth LLC now owns 10,395 shares of the company’s stock valued at $1,481,000 after acquiring an additional 6,488 shares during the period. Essex Financial Services Inc. lifted its stake in Robinhood Markets by 13.3% in the 3rd quarter. Essex Financial Services Inc. now owns 3,856 shares of the company’s stock valued at $552,000 after acquiring an additional 454 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in Robinhood Markets during the 3rd quarter worth approximately $427,000. NEOS Investment Management LLC bought a new position in shares of Robinhood Markets during the 3rd quarter worth approximately $11,994,000. Finally, Wealthcare Advisory Partners LLC raised its holdings in shares of Robinhood Markets by 7.8% in the third quarter. Wealthcare Advisory Partners LLC now owns 8,485 shares of the company’s stock valued at $1,215,000 after purchasing an additional 614 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several recent research reports. Compass Point restated a “buy” rating on shares of Robinhood Markets in a report on Wednesday, February 11th. Barclays cut their price objective on Robinhood Markets from $159.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. The Goldman Sachs Group cut their price objective on shares of Robinhood Markets from $152.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Bank of America lowered their target price on Robinhood Markets from $166.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Finally, Dbs Bank raised Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Seventeen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $121.71.

Robinhood Markets Stock Down 0.3%

Shares of Robinhood Markets stock opened at $75.21 on Thursday. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The business has a 50 day moving average price of $105.27 and a 200-day moving average price of $117.67. The company has a market cap of $67.63 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 1.28 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The business’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In related news, insider Steven M. Quirk sold 52,540 shares of Robinhood Markets stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $87.81, for a total value of $4,613,537.40. Following the sale, the insider owned 27,564 shares in the company, valued at $2,420,394.84. The trade was a 65.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $132.26, for a total value of $775,704.90. Following the completion of the transaction, the chief technology officer owned 26,725 shares of the company’s stock, valued at approximately $3,534,648.50. This trade represents a 18.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 700,939 shares of company stock valued at $84,749,747. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Company 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.