J.W. Cole Advisors Inc. Makes New $3.05 Million Investment in Robinhood Markets, Inc. $HOOD

J.W. Cole Advisors Inc. bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 32,561 shares of the company’s stock, valued at approximately $3,049,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 valued at $25,000 after purchasing an additional 148 shares in the last quarter. Hemington Wealth Management boosted its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the period. Smithfield Trust Co purchased a new stake in shares of Robinhood Markets in the second quarter worth about $29,000. Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $33,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. KeyCorp upped their price target on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Robinhood Markets in a research report on Wednesday. JMP Securities upped their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Morgan Stanley lifted their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Citizens Jmp boosted their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and a consensus price target of $136.95.

Robinhood Markets Price Performance

HOOD opened at $128.20 on Thursday. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86. The stock has a market capitalization of $115.28 billion, a PE ratio of 53.20, a P/E/G ratio of 2.60 and a beta of 2.42. The firm’s fifty day moving average price is $132.48 and its 200 day moving average price is $106.41.

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

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $112.98, for a total value of $1,129,800.00. Following the completion of the transaction, the insider owned 530,949 shares in the company, valued at approximately $59,986,618.02. This trade represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $116.56, for a total value of $48,761,477.28. The disclosure for this sale is available in the SEC filing. Insiders sold 3,970,272 shares of company stock valued at $505,742,993 in the last three months. Corporate 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.