Robinhood Markets, Inc. (NASDAQ:HOOD) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers raised its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 26.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,341 shares of the company’s stock after buying an additional 13,792 shares during the quarter. Cetera Investment Advisers’ holdings in Robinhood Markets were worth $1,507,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HOOD. Angeles Wealth Management LLC grew its holdings in Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after purchasing an additional 610 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Robinhood Markets by 44.9% in the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after buying an additional 710 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Robinhood Markets by 25.8% in the first quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock valued at $117,000 after buying an additional 1,194 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Robinhood Markets in the second quarter worth about $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity

In related news, insider Steven M. Quirk sold 208,291 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total transaction of $5,203,109.18. Following the completion of the sale, the insider now directly owns 346,020 shares in the company, valued at $8,643,579.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Robinhood Markets news, insider Steven M. Quirk sold 208,291 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.98, for a total value of $5,203,109.18. Following the completion of the transaction, the insider now owns 346,020 shares of the company’s stock, valued at $8,643,579.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the transaction, the director now directly owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,541,250 shares of company stock worth $107,643,767. 19.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Citigroup boosted their target price on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Piper Sandler restated an “overweight” rating and issued a $27.00 target price on shares of Robinhood Markets in a research note on Tuesday, October 8th. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.10.

Robinhood Markets Price Performance

HOOD opened at $26.80 on Wednesday. The business has a fifty day simple moving average of $21.49 and a 200 day simple moving average of $20.69. The company has a market capitalization of $23.55 billion, a PE ratio of 178.67 and a beta of 1.84. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $27.33.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Equities analysts anticipate that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal 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.