42,939 Shares in Robinhood Markets, Inc. $HOOD Acquired by Surience Private Wealth LLC

Key Points

• Surience Private Wealth LLC acquired 42,939 shares of Robinhood Markets, Inc. for approximately $4,020,000, making Robinhood about 3.8% of its total holdings.
• Insiders, including Director Baiju Bhatt and CEO Vladimir Tenev, sold significant shares totaling over $226 million in recent transactions.
• Robinhood reported a 45% year-over-year revenue increase for the last quarter, surpassing analysts' earnings expectations with $0.42 earnings per share.

Surience Private Wealth LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 42,939 shares of the company's stock, valued at approximately $4,020,000. Robinhood Markets makes up approximately 3.8% of Surience Private Wealth LLC's holdings, making the stock its 9th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its stake in shares of Robinhood Markets by 564.4% in the first 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. Hemington Wealth Management boosted its stake in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Robinhood Markets during the 1st quarter valued at about $30,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in Robinhood Markets during the 2nd quarter valued at about $74,000. Finally, Pandora Wealth Inc. bought a new stake in Robinhood Markets during the 1st quarter valued at about $33,000. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Insiders have sold 5,681,462 shares of company stock worth $581,726,917 over the last quarter. Company insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

HOOD stock opened at $126.80 on Thursday. Robinhood Markets, Inc. has a 1 year low of $22.05 and a 1 year high of $130.07. The company has a market cap of $112.68 billion, a P/E ratio of 64.37, a price-to-earnings-growth ratio of 4.68 and a beta of 2.36. The stock's fifty day moving average price is $109.90 and its 200-day moving average price is $77.57.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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 company had revenue of $989.00 million for 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%.Robinhood Markets's revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HOOD shares. Keefe, Bruyette & Woods upped their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Mizuho boosted their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. Finally, Compass Point increased their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $104.06.

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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.