Vivid Wealth Management LLC Buys New Shares in Robinhood Markets, Inc. $HOOD

Vivid Wealth Management LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,864 shares of the company’s stock, valued at approximately $3,264,000. Robinhood Markets accounts for about 1.4% of Vivid Wealth Management LLC’s portfolio, making the stock its 17th largest position.

Other hedge funds have also recently made changes to their positions in the company. Hemington Wealth Management increased its position in shares of 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 acquiring an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $33,000. V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter valued at $36,000. Finally, Colonial Trust Advisors increased its position in shares of Robinhood Markets by 125.0% in the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HOOD. Compass Point upped their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, June 27th. KeyCorp upped their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods upped their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Finally, Barclays upped their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average target price of $118.94.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company’s stock, valued at $9,531,353.14. This represents a 38.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,681,122 shares of company stock worth $618,215,681. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Stock Up 1.1%

HOOD stock opened at $152.46 on Friday. The company’s 50-day simple moving average is $117.92 and its 200-day simple moving average is $85.18. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86. The firm has a market cap of $135.49 billion, a P/E ratio of 77.39, a PEG ratio of 4.19 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last posted its 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. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. On average, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.