Encompass More Asset Management Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Encompass More Asset Management acquired 15,108 shares of Robinhood Markets, valued at approximately $629,000, during the 1st quarter of this year.
• Robinhood reported a profit of $0.42 EPS for the last quarter, exceeding estimates, with revenue reaching $989 million, a 45% increase from the previous year.
• Several analysts have increased their price targets for Robinhood shares, with updates suggesting a range between $96.00 and $120.00, indicating a generally positive outlook on the stock.

Encompass More Asset Management acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,108 shares of the company's stock, valued at approximately $629,000.

Several other institutional investors have also recently made changes to their positions in the business. Whipplewood Advisors LLC increased its stake in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Robinhood Markets in the first quarter worth about $30,000. CoreCap Advisors LLC boosted its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after acquiring an additional 498 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new stake in Robinhood Markets during the 4th quarter worth about $34,000. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup lifted their target price on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Mizuho upped their price target on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

Robinhood Markets Stock Up 0.2%

Shares of HOOD traded up $0.19 during midday trading on Wednesday, reaching $105.65. 32,930,766 shares of the stock were exchanged, compared to its average volume of 45,839,716. Robinhood Markets, Inc. has a twelve month low of $16.68 and a twelve month high of $113.44. The stock's 50 day simple moving average is $88.57 and its 200 day simple moving average is $62.82. The company has a market cap of $93.55 billion, a P/E ratio of 53.63, a PEG ratio of 4.02 and a beta of 2.36.

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

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the sale, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,830,629 shares of company stock valued at $438,930,436 in the last quarter. 14.47% of the stock is owned by company insiders.

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.