15,719 Shares in Robinhood Markets, Inc. $HOOD Bought by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,719 shares of the company’s stock, valued at approximately $1,472,000.

A number of other large investors have also recently added to or reduced their stakes in HOOD. Hantz Financial Services Inc. lifted its holdings in shares of Robinhood Markets by 120.3% in the second 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. V Square Quantitative Management LLC acquired a new stake in Robinhood Markets in the 2nd quarter valued at approximately $36,000. LGT Financial Advisors LLC bought a new stake in Robinhood Markets in the 2nd quarter valued at approximately $37,000. Atlantic Union Bankshares Corp acquired a new position in Robinhood Markets during the 2nd quarter worth approximately $37,000. Finally, REAP Financial Group LLC boosted its position in Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock worth $49,000 after acquiring an additional 160 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $146.91, for a total value of $861,480.24. Following the transaction, the chief technology officer directly owned 6,088 shares of the company’s stock, valued at $894,388.08. This represents a 49.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 48,350 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $140.61, for a total transaction 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 have sold 3,385,742 shares of company stock worth $403,923,453 in the last quarter. Company insiders own 14.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Bank of America lifted their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday. Morgan Stanley lifted their target price on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Citigroup upped their target price on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $132.65.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $130.36 on Friday. The stock has a 50-day simple moving average of $130.11 and a 200 day simple moving average of $99.54. The stock has a market capitalization of $115.85 billion, a P/E ratio of 54.09, a PEG ratio of 3.22 and a beta of 2.42. Robinhood Markets, Inc. has a 52 week low of $29.21 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.20. Robinhood Markets had a return on equity of 22.13% and a net margin of 52.19%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 100.0% compared to the same quarter last year. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.