Maven Securities LTD Makes New $286,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Maven Securities LTD bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,615 shares of the company’s stock, valued at approximately $286,000.

Several other large investors have also recently made changes to their positions in HOOD. Dana Investment Advisors Inc. grew its position in Robinhood Markets by 16.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,556 shares of the company’s stock valued at $308,000 after purchasing an additional 1,938 shares during the last quarter. Cetera Investment Advisers raised its holdings in Robinhood Markets by 26.2% in the 2nd quarter. Cetera Investment Advisers now owns 66,341 shares of the company’s stock worth $1,507,000 after acquiring an additional 13,792 shares during the last quarter. Quarry LP lifted its position in Robinhood Markets by 180.7% in the 2nd quarter. Quarry LP now owns 4,042 shares of the company’s stock valued at $92,000 after acquiring an additional 2,602 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Robinhood Markets by 58,832.8% during the 2nd quarter. NewEdge Advisors LLC now owns 39,485 shares of the company’s stock valued at $897,000 after purchasing an additional 39,418 shares during the last quarter. Finally, Creative Planning boosted its stake in Robinhood Markets by 142.8% during the 2nd quarter. Creative Planning now owns 26,290 shares of the company’s stock valued at $597,000 after purchasing an additional 15,464 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the sale, the insider now directly owns 1,070,000 shares in the company, valued at approximately $25,059,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $23.42, for a total value of $545,522.06. Following the completion of the transaction, the insider now owns 1,070,000 shares of the company’s stock, valued at $25,059,400. The disclosure for this sale can be found here. Insiders sold a total of 1,214,889 shares of company stock worth $23,864,315 over the last three months. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $22.63 on Thursday. The business’s fifty day moving average is $20.50 and its 200 day moving average is $20.30. The company has a market capitalization of $19.89 billion, a PE ratio of 150.87 and a beta of 1.82. Robinhood Markets, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $24.88.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on HOOD shares. KeyCorp upped their price target on Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Piper Sandler upped their target price on shares of Robinhood Markets from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Barclays upgraded shares of Robinhood Markets from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Finally, Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a research report on Wednesday, June 26th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.63.

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.