Wealthquest Corp Takes $156.19 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)
Wealthquest Corp has acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD), purchasing 3,752,828 shares valued at approximately $156.19 million, making it the third largest holding in their portfolio. Analysts have raised their price targets for Robinhood, with a consensus rating of "Moderate Buy" and an average price target of $91.94. Recent insider trading shows significant sales by executives, with insiders selling over 3 million shares in the last three months. Robinhood's stock has seen a 2.7% increase recently, with a market cap of $93.95 billion.
Wealthquest Corp acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,752,828 shares of the company's stock, valued at approximately $156,193,000. Robinhood Markets accounts for about 7.0% of Wealthquest Corp's portfolio, making the stock its 3rd largest holding. Wealthquest Corp owned about 0.42% of Robinhood Markets as of its most recent filing with the SEC.
Get Robinhood Markets alerts:
- MarketBeat Week in Review – 07/21 - 07/25
A number of other hedge funds have also recently modified their holdings of the business. Whipplewood Advisors LLC lifted its stake in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at $30,000. CoreCap Advisors LLC lifted its stake in shares of Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares in the last quarter. Colonial Trust Co SC purchased a new position in shares of Robinhood Markets during the 4th quarter valued at $34,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after buying an additional 498 shares in the last quarter. Institutional investors own 93.27% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Cantor Fitzgerald boosted their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday. KeyCorp upped their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Needham & Company LLC upped their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Compass Point upped their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $91.94.
- How Robinhood Stock Benefits From New Pro Gambling Tax Changes
Check Out Our Latest Report on HOOD
Insider Buying and Selling
In other Robinhood Markets news, insider Steven M. Quirk sold 92,257 shares of Robinhood Markets stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the transaction, the insider owned 136,364 shares of the company's stock, valued at $11,585,485.44. The trade was a 40.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $101.88, for a total value of $42,620,275.44. Following the completion of the sale, the director directly owned 10,518 shares of the company's stock, valued at approximately $1,071,573.84. The trade was a 97.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,026,690 shares of company stock valued at $257,160,102 in the last three months. 14.47% of the stock is owned by corporate insiders.
Robinhood Markets Stock Up 2.7%
- Robinhood Stock Gets 5 Price Target Upgrades, Signaling Upside
NASDAQ:HOOD opened at $106.10 on Thursday. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $113.44. The stock has a market cap of $93.95 billion, a PE ratio of 60.28, a price-to-earnings-growth ratio of 5.26 and a beta of 2.36. The firm's fifty day simple moving average is $85.42 and its 200-day simple moving average is $61.05.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly 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. The company had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.
Robinhood Markets Company Profile
(Free Report)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.
Read More
- Five stocks we like better than Robinhood Markets
- Are Penny Stocks a Good Fit for Your Portfolio?
- 2 Cybersecurity Giants Nearing Big Potential Breakouts
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Spotify's Q2 Earnings Plunge: An Opportunity or Ominous Signal?
- Profitably Trade Stocks at 52-Week Highs
- This Drone Stock Is on Sale Despite Big Army Contract
Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Robinhood Markets Right Now?
Before you consider Robinhood Markets, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Robinhood Markets wasn't on the list.
While Robinhood Markets currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
