Alta Wealth Advisors LLC Takes Position in Robinhood Markets, Inc. $HOOD

Alta Wealth Advisors LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,076 shares of the company’s stock, valued at approximately $1,013,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. WCM Investment Management LLC lifted its stake in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after acquiring an additional 11,244,182 shares during the period. Norges Bank bought a new stake in Robinhood Markets during the 2nd quarter worth about $973,122,000. Paradigm Operations LP acquired a new position in Robinhood Markets during the 2nd quarter valued at about $308,979,000. Jennison Associates LLC bought a new position in shares of Robinhood Markets in the 3rd quarter valued at about $322,823,000. Finally, Invesco Ltd. grew its position in shares of Robinhood Markets by 81.0% during the 2nd quarter. Invesco Ltd. now owns 4,942,533 shares of the company’s stock worth $462,769,000 after buying an additional 2,212,487 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $121.58, for a total value of $1,215,800.00. Following the transaction, the insider owned 403,612 shares of the company’s stock, valued at approximately $49,071,146.96. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief technology officer directly owned 14,997 shares of the company’s stock, valued at $1,823,485.23. This represents a 28.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,872,561 shares of company stock worth $357,470,545 in the last quarter. 19.95% of the stock is owned by corporate insiders.

Robinhood Markets Stock Up 0.0%

Shares of HOOD stock opened at $107.00 on Tuesday. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86. The company’s fifty day simple moving average is $118.77 and its 200-day simple moving average is $119.93. The firm has a market cap of $96.21 billion, a PE ratio of 44.40, a P/E/G ratio of 1.67 and a beta of 2.44.

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

Wall Street Analysts Forecast Growth

HOOD has been the subject of several recent research reports. KeyCorp upped their target price on shares of Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Needham & Company LLC cut their target price on Robinhood Markets from $145.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, December 29th. Truist Financial began coverage on Robinhood Markets in a report on Wednesday, December 17th. They set a “buy” rating and a $155.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Robinhood Markets in a research note on Monday, January 5th. 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. Based on data from MarketBeat, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus target price 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.