Concord Wealth Partners Invests $142,000 in Robinhood Markets, Inc. $HOOD

Concord Wealth Partners acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, Holdings Channel reports. The firm acquired 1,516 shares of the company’s stock, valued at approximately $142,000.

A number of other hedge funds have also modified their holdings of HOOD. Kingstone Capital Partners Texas LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter worth $951,479,000. Vanguard Group Inc. grew its holdings in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. AGF Management Ltd. grew its holdings in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. Wealthquest Corp purchased a new position in shares of Robinhood Markets during the first quarter valued at $156,193,000. Finally, Altimeter Capital Management LP purchased a new position in shares of Robinhood Markets during the first quarter valued at $120,103,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 1,568,421 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meyer Malka sold 1,093,288 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares of the company’s stock, valued at $413,011,425.58. This represents a 21.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,566,947 shares of company stock worth $606,609,792 in the last ninety days. 19.95% of the stock is owned by insiders.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $140.68 on Tuesday. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86. The stock has a market capitalization of $125.02 billion, a PE ratio of 71.41, a P/E/G ratio of 3.77 and a beta of 2.42. The stock has a 50-day simple moving average of $119.39 and a 200 day simple moving average of $87.08.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to analysts’ expectations of $893.93 million. During the same quarter in the previous year, the firm earned $0.21 EPS. The firm’s revenue was up 45.0% compared to the same quarter last year. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HOOD. Compass Point lifted their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Barclays boosted their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, Cantor Fitzgerald boosted their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Robinhood Markets Company 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.