Harold Davidson & Associates Inc. Invests $1.68 Million in Robinhood Markets, Inc. $HOOD

Harold Davidson & Associates Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,697 shares of the company’s stock, valued at approximately $1,675,000.

A number of other institutional investors have also recently added to or reduced their stakes in HOOD. Hantz Financial Services Inc. lifted its stake in shares of Robinhood Markets by 120.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock valued at $25,000 after purchasing an additional 148 shares during the last quarter. Valley National Advisers Inc. raised its holdings in Robinhood Markets by 113.6% during the third quarter. Valley National Advisers Inc. now owns 188 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the last quarter. Smithfield Trust Co bought a new stake in shares of Robinhood Markets during the 2nd quarter worth about $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Robinhood Markets during the 3rd quarter valued at about $29,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

HOOD stock opened at $75.21 on Thursday. The business has a fifty day moving average price of $105.27 and a 200 day moving average price of $117.67. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The stock has a market capitalization of $67.63 billion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 1.28 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Robinhood Markets had a return on equity of 22.32% and a net margin of 42.10%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on Robinhood Markets from $152.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Compass Point restated a “buy” rating on shares of Robinhood Markets in a research note on Wednesday, February 11th. Morgan Stanley upped their price objective on shares of Robinhood Markets from $146.00 to $147.00 and gave the stock an “equal weight” rating in a report on Monday, December 22nd. Loop Capital set a $130.00 target price on shares of Robinhood Markets in a report on Monday, February 9th. Finally, CICC Research began coverage on shares of Robinhood Markets in a report on Monday, October 27th. They set an “outperform” rating and a $155.00 price target for the company. Seventeen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $121.71.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 375,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $121.63, for a total transaction of $45,611,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 52,540 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $87.81, for a total transaction of $4,613,537.40. Following the completion of the transaction, the insider owned 27,564 shares of the company’s stock, valued at $2,420,394.84. This trade represents a 65.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 700,939 shares of company stock valued at $84,749,747 over the last ninety days. Company insiders own 14.47% of the company’s stock.

About Robinhood Markets

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.