111 Capital Takes Position in Robinhood Markets, Inc. $HOOD

Key Points

• 111 Capital acquired a new stake in Robinhood Markets, purchasing 6,854 shares valued at approximately $642,000, indicating continued interest in the stock among institutional investors.
• Robinhood's stock saw multiple price target upgrades from analysts, with Barclays raising its target to $120.00 and Mizuho to $145.00, reflecting a generally positive sentiment around the stock's future performance.
• The company reported a 45% increase in revenue year-over-year, totaling $989 million, and exceeded earnings expectations with an EPS of $0.42 for its latest quarter.

111 Capital acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,854 shares of the company's stock, valued at approximately $642,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in shares of Robinhood Markets by 113.4% during the second quarter. QRG Capital Management Inc. now owns 287,230 shares of the company's stock valued at $26,893,000 after acquiring an additional 152,654 shares in the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $1,525,000. Ascent Group LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $343,000. Clarity Capital Partners LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $217,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $56,000. Institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Mizuho upped their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Redburn Atlantic reiterated a "sell" rating and set a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $113.59.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $148.67 on Friday. Robinhood Markets, Inc. has a 52-week low of $22.61 and a 52-week high of $150.21. The firm has a market cap of $132.12 billion, a price-to-earnings ratio of 75.47, a PEG ratio of 4.13 and a beta of 2.42. The business's fifty day moving average is $114.45 and its 200 day moving average is $82.60.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same period in the previous year, the company posted $0.21 EPS. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 60,113 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $124.13, for a total value of $727,898.32. Following the sale, the chief technology officer owned 17,816 shares in the company, valued at approximately $2,211,500.08. The trade was a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,656,462 shares of company stock worth $614,224,917 in the last 90 days. 14.47% 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.

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