EverSource Wealth Advisors LLC Acquires 87,471 Shares of Robinhood Markets, Inc. $HOOD

EverSource Wealth Advisors LLC lifted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 3,478.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,986 shares of the company’s stock after purchasing an additional 87,471 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Robinhood Markets were worth $8,425,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Federated Hermes Inc. increased its stake in Robinhood Markets by 2.1% during the 1st quarter. Federated Hermes Inc. now owns 31,024 shares of the company’s stock worth $1,291,000 after acquiring an additional 638 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Robinhood Markets by 366.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 31,389 shares of the company’s stock worth $1,306,000 after purchasing an additional 24,664 shares in the last quarter. J. Safra Sarasin Holding AG bought a new position in shares of Robinhood Markets in the first quarter worth $216,000. Cary Street Partners Financial LLC bought a new position in shares of Robinhood Markets in the first quarter worth $1,849,000. Finally, Atria Wealth Solutions Inc. raised its stake in Robinhood Markets by 11.6% in the first quarter. Atria Wealth Solutions Inc. now owns 43,720 shares of the company’s stock valued at $1,820,000 after purchasing an additional 4,546 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on HOOD. Citizens Jmp raised their target price on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a report on Monday. Bank of America boosted their price target on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, Barclays upped their price objective on Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average target price of $136.95.

Robinhood Markets Stock Performance

Shares of HOOD opened at $133.64 on Thursday. The stock has a market capitalization of $120.17 billion, a price-to-earnings ratio of 55.45, a PEG ratio of 2.83 and a beta of 2.43. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The stock has a fifty day moving average of $132.80 and a 200-day moving average of $108.76.

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

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 48,350 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the completion of the transaction, the insider owned 70,279 shares of the company’s stock, valued at approximately $9,881,930.19. This trade represents a 40.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of Robinhood Markets stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $121.33, for a total transaction of $6,066,500.00. Following the transaction, the insider owned 480,949 shares in the company, valued at approximately $58,353,542.17. This trade represents a 9.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,935,159 shares of company stock worth $503,220,491 in the last 90 days. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets 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.