Delap Wealth Advisory LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Delap Wealth Advisory LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,129 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds also recently added to or reduced their stakes in HOOD. PNC Financial Services Group Inc. raised its holdings in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. ORG Partners LLC bought a new position in Robinhood Markets in the second quarter worth approximately $33,000. Allspring Global Investments Holdings LLC purchased a new stake in Robinhood Markets during the first quarter worth $34,000. International Assets Investment Management LLC bought a new stake in Robinhood Markets during the 2nd quarter valued at $40,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Robinhood Markets in the 2nd quarter valued at $45,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America upped their price objective on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Morgan Stanley raised their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Citigroup upgraded shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price objective for the company in a research note on Monday, August 5th. Keefe, Bruyette & Woods lowered their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler upped their price target on Robinhood Markets from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.10.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 120,236 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.20, for a total transaction of $2,669,239.20. The disclosure for this sale can be found here. Insiders sold a total of 1,204,096 shares of company stock valued at $23,603,793 over the last 90 days. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $22.73 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.88. The firm has a market capitalization of $19.98 billion, a PE ratio of 151.53 and a beta of 1.82. The stock’s 50-day simple moving average is $20.59 and its 200-day simple moving average is $19.98.

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