Westpac Banking Corp Invests $234,000 in Robinhood Markets, Inc. $HOOD

Westpac Banking Corp purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,495 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. True Vision MN LLC grew its stake in shares of Robinhood Markets by 1.7% during the second quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after buying an additional 116 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of Robinhood Markets by 0.8% during the 2nd quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock valued at $1,685,000 after acquiring an additional 134 shares in the last quarter. Hemington Wealth Management boosted its holdings in shares of Robinhood Markets by 22.5% during the 2nd quarter. Hemington Wealth Management now owns 779 shares of the company’s stock valued at $72,000 after acquiring an additional 143 shares in the last quarter. Ballentine Partners LLC grew its position in Robinhood Markets by 2.3% during the 2nd quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock worth $620,000 after acquiring an additional 148 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $145.95, for a total value of $3,648,750.00. Following the completion of the sale, the insider owned 540,949 shares of the company’s stock, valued at approximately $78,951,506.55. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 48,350 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total value of $6,798,493.50. Following the sale, the insider owned 70,279 shares of the company’s stock, valued at approximately $9,881,930.19. This represents a 40.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,297,404 shares of company stock worth $529,026,559 over the last 90 days. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Down 5.3%

NASDAQ:HOOD opened at $115.97 on Tuesday. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company has a fifty day moving average of $132.78 and a 200-day moving average of $103.64. The firm has a market capitalization of $104.28 billion, a P/E ratio of 48.12, a P/E/G ratio of 2.80 and a beta of 2.42.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HOOD. Morgan Stanley lifted their price target on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Finally, CICC Research began coverage on Robinhood Markets in a report on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price on the stock. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.65.

Robinhood Markets Profile

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.