Norden Group LLC Has $649,000 Holdings in Robinhood Markets, Inc. $HOOD

Norden Group LLC increased its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,931 shares of the company’s stock after acquiring an additional 979 shares during the quarter. Norden Group LLC’s holdings in Robinhood Markets were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of HOOD. Whipplewood Advisors LLC increased its stake in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock worth $25,000 after purchasing an additional 508 shares during the period. Hemington Wealth Management grew its holdings in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the last quarter. Wayfinding Financial LLC bought a new position in Robinhood Markets in the 1st quarter worth approximately $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets during the first quarter worth approximately $33,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after acquiring an additional 498 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $122.65 on Friday. The firm has a market capitalization of $109.00 billion, a P/E ratio of 62.26, a P/E/G ratio of 4.52 and a beta of 2.36. The stock has a fifty day moving average price of $110.25 and a two-hundred day moving average price of $78.17. Robinhood Markets, Inc. has a 52-week low of $22.05 and a 52-week high of $130.07.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho upped their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday. Barclays lifted their target price on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Citigroup raised their price objective on Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, JMP Securities boosted their price objective on Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $104.06.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681,462 shares of company stock worth $581,726,917 in the last three months. Company insiders own 14.47% of the company’s stock.

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.