Toth Financial Advisory Corp Raises Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Toth Financial Advisory Corp increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 36.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,400 shares of the company’s stock after purchasing an additional 11,000 shares during the quarter. Toth Financial Advisory Corp’s holdings in Robinhood Markets were worth $970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP bought a new position in Robinhood Markets during the fourth quarter valued at $8,299,000. PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 722 shares during the period. Counterpoint Mutual Funds LLC bought a new position in Robinhood Markets during the 1st quarter valued at about $667,000. Atlas Capital Advisors LLC raised its position in Robinhood Markets by 1,894.6% in the 1st quarter. Atlas Capital Advisors LLC now owns 28,682 shares of the company’s stock worth $577,000 after purchasing an additional 27,244 shares during the period. Finally, SteelPeak Wealth LLC lifted its stake in Robinhood Markets by 92.6% in the first quarter. SteelPeak Wealth LLC now owns 21,340 shares of the company’s stock worth $430,000 after purchasing an additional 10,258 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction dated 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 is accessible through this link. In related news, CFO Jason Warnick sold 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the transaction, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at $22,577,315.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,639,654 shares of company stock worth $110,241,632 in the last ninety days. 19.95% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley boosted their target price on shares of Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Citigroup raised their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.97.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $26.97 on Tuesday. The company’s 50-day simple moving average is $22.20 and its 200-day simple moving average is $20.91. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $27.33. The stock has a market capitalization of $23.70 billion, a P/E ratio of 179.80 and a beta of 1.84.

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