Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 262.4% during the 2nd quarter, Holdings Channel reports. The firm owned 76,327 shares of the company’s stock after buying an additional 55,266 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Robinhood Markets were worth $1,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HOOD. PNC Financial Services Group Inc. lifted its holdings in Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at $33,000. Allspring Global Investments Holdings LLC purchased a new position in Robinhood Markets in the first quarter valued at $34,000. International Assets Investment Management LLC acquired a new position in Robinhood Markets during the 2nd quarter worth $40,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HOOD. Morgan Stanley lifted their price objective on Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group boosted their price target on shares of Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Needham & Company LLC restated a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Piper Sandler lifted their price objective on shares of Robinhood Markets from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods dropped their target price on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. One equities 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’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of “Hold” and an average price target of $23.10.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the sale, the insider now directly owns 956,247 shares of the company’s stock, valued at approximately $21,802,431.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the completion of the transaction, the insider now owns 956,247 shares in the company, valued at approximately $21,802,431.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Insiders have sold 1,204,096 shares of company stock worth $23,603,793 in the last quarter. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $22.73 on Monday. The firm’s fifty day simple moving average is $20.59 and its 200-day simple moving average is $19.98. Robinhood Markets, Inc. has a 12 month low of $7.91 and a 12 month high of $24.88. The stock has a market capitalization of $19.98 billion, a price-to-earnings ratio of 151.53 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $640.39 million. During the same period in the previous year, the business posted $0.03 earnings per share. Robinhood Markets’s quarterly revenue was up 40.3% on a year-over-year basis. Analysts anticipate that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

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.