Circle Wealth Management LLC Has $1.48 Million Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Circle Wealth Management LLC raised its stake in Robinhood Markets, Inc. (NASDAQ:HOOD) by 146.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,083 shares of the company’s stock after acquiring an additional 37,441 shares during the quarter. Circle Wealth Management LLC’s holdings in Robinhood Markets were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in HOOD. HM Payson & Co. boosted its stake in shares of Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Eastern Bank bought a new position in shares of Robinhood Markets in the 3rd quarter worth $30,000. ORG Wealth Partners LLC acquired a new position in Robinhood Markets in the third quarter valued at about $33,000. ORG Partners LLC acquired a new position in shares of Robinhood Markets during the 2nd quarter worth about $33,000. Finally, International Assets Investment Management LLC bought a new position in Robinhood Markets during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HOOD. Bank of America boosted their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Needham & Company LLC raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Citigroup increased their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, JMP Securities boosted their price target on Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.59.

Robinhood Markets Stock Down 0.3 %

NASDAQ:HOOD opened at $37.54 on Friday. Robinhood Markets, Inc. has a 12-month low of $8.69 and a 12-month high of $39.74. The stock’s 50 day moving average price is $28.14 and its two-hundred day moving average price is $23.49. The firm has a market capitalization of $33.18 billion, a price-to-earnings ratio of 63.63, a P/E/G ratio of 0.88 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.52% and a net margin of 21.80%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) earnings per share. Equities research analysts expect that Robinhood Markets, Inc. will post 0.74 EPS for the current year.

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the sale, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. This trade represents a 97.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the transaction, the director now owns 28,930,243 shares of the company’s stock, valued at approximately $867,907,290. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,685,549 shares of company stock valued at $114,953,194. 19.95% of the stock is owned by company insiders.

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.