Brighton Jones LLC Grows Position in Robinhood Markets, Inc. $HOOD

Brighton Jones LLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 58.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,276 shares of the company’s stock after acquiring an additional 3,425 shares during the period. Brighton Jones LLC’s holdings in Robinhood Markets were worth $869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC raised its holdings in shares of Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after acquiring an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Robinhood Markets by 184.4% in the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after acquiring an additional 1,186 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Robinhood Markets by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock valued at $677,000 after acquiring an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Robinhood Markets by 125.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after acquiring an additional 10,703 shares in the last quarter. Finally, Metavasi Capital LP raised its holdings in shares of Robinhood Markets by 275.0% in the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock valued at $3,122,000 after acquiring an additional 55,000 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a report on Wednesday, October 8th. JMP Securities raised their price objective on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Bank of America raised their price objective on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Needham & Company LLC raised their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, Morgan Stanley raised their price objective on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.85.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total value of $55,684,971.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,175,598 shares of company stock worth $579,779,430. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

HOOD opened at $146.25 on Wednesday. The stock’s 50 day simple moving average is $124.80 and its 200 day simple moving average is $94.51. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The firm has a market cap of $129.97 billion, a price-to-earnings ratio of 74.24, a PEG ratio of 3.79 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.Robinhood Markets’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS 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.