Newbridge Financial Services Group Inc. Buys 6,300 Shares of Robinhood Markets, Inc. $HOOD

Newbridge Financial Services Group Inc. raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 2,520.0% during the second quarter, Holdings Channel reports. The fund owned 6,550 shares of the company’s stock after buying an additional 6,300 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Robinhood Markets were worth $613,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisory Services Network LLC increased its stake in shares of Robinhood Markets by 54.4% during the 2nd quarter. Advisory Services Network LLC now owns 25,111 shares of the company’s stock worth $2,588,000 after purchasing an additional 8,851 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in Robinhood Markets during the second quarter valued at $56,000. Liontrust Investment Partners LLP purchased a new stake in Robinhood Markets in the second quarter worth $3,864,000. Geneos Wealth Management Inc. raised its stake in shares of Robinhood Markets by 135.8% in the second quarter. Geneos Wealth Management Inc. now owns 18,537 shares of the company’s stock valued at $1,736,000 after buying an additional 10,677 shares during the period. Finally, Hollencrest Capital Management lifted its position in shares of Robinhood Markets by 25.5% during the 2nd quarter. Hollencrest Capital Management now owns 1,828 shares of the company’s stock valued at $171,000 after buying an additional 372 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Down 3.1%

HOOD stock opened at $119.50 on Monday. The firm has a 50 day moving average of $132.04 and a 200-day moving average of $112.37. The firm has a market capitalization of $107.45 billion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 2.40 and a beta of 2.43. Robinhood Markets, Inc. has a 12 month low of $29.66 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its 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. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $116.56, for a total transaction of $48,761,477.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $132.26, for a total value of $775,704.90. Following the completion of the transaction, the chief technology officer owned 26,725 shares in the company, valued at $3,534,648.50. This represents a 18.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,686,763 shares of company stock worth $475,858,262 over the last three months. Corporate insiders own 19.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HOOD. Loop Capital set a $152.00 price objective on Robinhood Markets in a report on Thursday. Citigroup lifted their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Zacks Research raised shares of Robinhood Markets from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Bank of America cut their price objective on shares of Robinhood Markets from $166.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Citizens Jmp lifted their price objective on shares of Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $136.32.

About Robinhood Markets

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.