3,257 Shares in Robinhood Markets, Inc. $HOOD Purchased by Quotient Wealth Partners LLC

Key Points

• Quotient Wealth Partners LLC has acquired a new position in Robinhood Markets, purchasing 3,257 shares valued at about $305,000 during Q2.
• Major hedge funds, including WCM Investment Management and Vanguard Group, have significantly increased their stakes in Robinhood, now collectively holding over 93% of the company’s stock.
• Robinhood reported a EPS of $0.42 for the last quarter, exceeding analysts' estimates, and the stock has a current market cap of $115.45 billion.

Quotient Wealth Partners LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,257 shares of the company's stock, valued at approximately $305,000.

Other hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC increased its stake in Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Robinhood Markets during the second quarter worth approximately $951,479,000. Vanguard Group Inc. increased its stake in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. AGF Management Ltd. increased its stake in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. Finally, Wealthquest Corp bought a new stake in Robinhood Markets during the first quarter worth approximately $156,193,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Down 1.2%

Shares of NASDAQ:HOOD opened at $129.91 on Friday. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86. The stock has a market cap of $115.45 billion, a P/E ratio of 65.94, a price-to-earnings-growth ratio of 3.43 and a beta of 2.42. The business's 50 day moving average is $121.26 and its 200 day moving average is $89.28.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $893.93 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Mizuho boosted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. The Goldman Sachs Group upped their target price on Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Needham & Company LLC upped their target price on Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Finally, Citizens Jmp upped their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a "mkt outperform" rating in a research note on Thursday, October 9th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the transaction, the insider directly owned 591,887 shares in the company, 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 5,181,462 shares of company stock valued at $567,328,871 over the last 90 days. 14.47% of the stock is owned by 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.

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