35,610 Shares in Robinhood Markets, Inc. (NASDAQ:HOOD) Bought by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,610 shares of the company’s stock, valued at approximately $809,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Deerfield Management Company L.P. Series C purchased a new stake in shares of Robinhood Markets during the second quarter worth about $246,000. AQR Capital Management LLC lifted its stake in shares of Robinhood Markets by 274.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock worth $37,341,000 after acquiring an additional 1,218,317 shares during the last quarter. AXA S.A. purchased a new position in Robinhood Markets during the 2nd quarter worth $3,886,000. Caxton Associates LP purchased a new position in shares of Robinhood Markets in the 2nd quarter valued at $863,000. Finally, Point72 Europe London LLP purchased a new stake in Robinhood Markets during the 2nd quarter valued at about $3,659,000. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

HOOD has been the topic of a number of recent research reports. Citigroup upped their target price on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Piper Sandler increased their price target on Robinhood Markets from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Wolfe Research raised Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a research note on Wednesday, June 26th. The Goldman Sachs Group raised their price target on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of “Hold” and an average target price of $23.63.

Insiders Place Their Bets

In other news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $22.50, for a total transaction of $5,625,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,191,596 shares of company stock valued at $23,318,793 in the last quarter. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $22.33 on Wednesday. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.88. The stock has a market capitalization of $19.62 billion, a P/E ratio of 148.87 and a beta of 1.82. The business’s fifty day moving average is $20.48 and its two-hundred day moving average is $20.28.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. During the same period in the previous year, the company posted $0.03 EPS. Robinhood Markets’s revenue was up 40.3% on a year-over-year basis. On average, research analysts forecast that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Robinhood Markets Company 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.