Robinhood Markets, Inc. $HOOD Shares Purchased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 479.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,331 shares of the company’s stock after purchasing an additional 11,030 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in Robinhood Markets were worth $1,909,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in shares of Robinhood Markets by 46.7% during the first quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after buying an additional 15,885 shares in the last quarter. GAMMA Investing LLC boosted its position in Robinhood Markets by 6.4% during the second quarter. GAMMA Investing LLC now owns 8,733 shares of the company’s stock worth $818,000 after acquiring an additional 523 shares during the last quarter. Fifth Third Bancorp raised its holdings in Robinhood Markets by 4,410.9% in the 2nd quarter. Fifth Third Bancorp now owns 15,698 shares of the company’s stock valued at $1,470,000 after acquiring an additional 15,350 shares during the last quarter. Accurate Wealth Management LLC acquired a new stake in Robinhood Markets in the 2nd quarter valued at about $205,000. Finally, Norden Group LLC boosted its holdings in shares of Robinhood Markets by 16.4% during the 2nd quarter. Norden Group LLC now owns 6,931 shares of the company’s stock worth $649,000 after purchasing an additional 979 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 0.3%

HOOD opened at $106.25 on Friday. The firm has a market cap of $95.54 billion, a price-to-earnings ratio of 44.09, a PEG ratio of 1.66 and a beta of 2.44. The stock’s 50-day moving average price is $119.26 and its 200 day moving average price is $119.41. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $0.17 earnings per share. The business’s quarterly revenue was up 100.0% on a year-over-year basis. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Monday, January 5th. The stock was sold at an average price of $121.59, for a total value of $713,003.76. Following the completion of the transaction, the chief technology officer directly owned 14,997 shares in the company, valued at approximately $1,823,485.23. This trade represents a 28.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 375,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $121.63, for a total value of $45,611,250.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 2,878,425 shares of company stock valued at $358,332,025. 14.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HOOD shares. Loop Capital set a $152.00 price target on Robinhood Markets in a report on Thursday, December 11th. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Monday, December 22nd. Compass Point reiterated a “buy” rating on shares of Robinhood Markets in a report on Monday, October 27th. Finally, Cantor Fitzgerald cut their price target on shares of Robinhood Markets from $155.00 to $152.00 and set an “overweight” rating for the company in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.62.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.