Harbor Investment Advisory LLC Has $1.60 Million Holdings in Robinhood Markets, Inc. $HOOD

by · The Cerbat Gem

Harbor Investment Advisory LLC grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 18.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,045 shares of the company’s stock after purchasing an additional 2,700 shares during the period. Harbor Investment Advisory LLC’s holdings in Robinhood Markets were worth $1,596,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cigna Investments Inc. New boosted its stake in Robinhood Markets by 2.7% during the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock valued at $280,000 after purchasing an additional 174 shares during the period. Hemington Wealth Management boosted its stake in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Farther Finance Advisors LLC boosted its stake in Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock valued at $290,000 after purchasing an additional 265 shares during the period. Allworth Financial LP boosted its stake in Robinhood Markets by 23.4% during the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company’s stock valued at $58,000 after purchasing an additional 266 shares during the period. Finally, HighPoint Advisor Group LLC boosted its stake in Robinhood Markets by 0.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company’s stock valued at $1,520,000 after purchasing an additional 272 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director directly owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,773,719 shares of company stock worth $589,293,510 in the last 90 days. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Trading Down 2.3%

Shares of HOOD stock opened at $115.03 on Friday. The stock has a 50 day moving average of $105.99 and a two-hundred day moving average of $73.46. Robinhood Markets, Inc. has a 12 month low of $21.50 and a 12 month high of $123.44. The company has a market capitalization of $102.22 billion, a P/E ratio of 58.39, a P/E/G ratio of 4.32 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the company earned $0.21 EPS. The company’s quarterly revenue was up 45.0% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup increased their target price on Robinhood Markets from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Mizuho increased their target price on Robinhood Markets from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC increased their target price on Robinhood Markets from $71.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. JMP Securities increased their target price on Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their target price on Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus target price of $101.88.

Read Our Latest Stock Analysis on HOOD

About Robinhood Markets

(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.

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