Dorsey & Whitney Trust CO LLC Acquires Shares of 9,634 Robinhood Markets, Inc. (NASDAQ:HOOD)

Dorsey & Whitney Trust CO LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,634 shares of the company’s stock, valued at approximately $219,000.

A number of other large investors also recently modified their holdings of HOOD. PNC Financial Services Group Inc. increased its stake 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 valued at $29,000 after purchasing an additional 722 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Robinhood Markets during the second quarter worth about $33,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Robinhood Markets in the 1st quarter worth about $34,000. International Assets Investment Management LLC bought a new position in Robinhood Markets in the 2nd quarter valued at about $40,000. Finally, Opal Wealth Advisors LLC acquired a new position in Robinhood Markets during the 2nd quarter valued at about $45,000. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Baiju Bhatt sold 121,226 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $21.63, for a total transaction of $2,622,118.38. 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 the firm’s stock in a transaction that occurred on 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 a total of 1,325,322 shares of company stock valued at $26,225,912 over the last quarter. Company insiders own 19.95% of the company’s stock.

Robinhood Markets Price Performance

Shares of HOOD opened at $21.64 on Friday. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.88. The stock’s fifty day moving average price is $20.56 and its two-hundred day moving average price is $19.69. The firm has a market cap of $19.02 billion, a PE ratio of 144.27 and a beta of 1.83.

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

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of recent research reports. 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. Barclays raised shares of Robinhood Markets from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. JMP Securities reissued 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, Morgan Stanley upped their price objective on shares of Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.83.

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.