4,980 Shares in Robinhood Markets, Inc. $HOOD Purchased by Checchi Capital Advisers LLC

Key Points

• Checchi Capital Advisers LLC has acquired 4,980 shares of Robinhood Markets, Inc., valued at approximately $466,000, as part of its new position in the stock.
• Insiders have recently sold a significant number of shares, with Director Baiju Bhatt selling over 1.5 million shares, leading to insiders now owning 19.95% of the stock.
• Analysts have set varying price targets for Robinhood Markets, with Cantor Fitzgerald raising their target to $118.00 and JMP Securities to $130.00, indicating a consensus rating of "Moderate Buy".

Checchi Capital Advisers LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,980 shares of the company's stock, valued at approximately $466,000.

A number of other institutional investors and hedge funds have also made changes to their positions in HOOD. Vanguard Group Inc. lifted its position in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Robinhood Markets in the 2nd quarter worth $951,479,000. AGF Management Ltd. lifted its holdings in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after purchasing an additional 131,620 shares during the period. Finally, Northern Trust Corp grew its position in shares of Robinhood Markets by 4.2% in the first quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock valued at $169,035,000 after purchasing an additional 163,823 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the business's stock in a transaction dated 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 in the company, valued at $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,650,598 shares of company stock worth $613,676,575 in the last quarter. 19.95% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on HOOD shares. Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Compass Point increased their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. JMP Securities raised their target price on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a research report on Saturday, September 27th. Finally, Redburn Atlantic reissued a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $113.59.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $144.26 on Tuesday. The stock's 50 day simple moving average is $115.20 and its 200-day simple moving average is $83.57. The stock has a market cap of $128.20 billion, a P/E ratio of 73.23, a P/E/G ratio of 4.13 and a beta of 2.42. Robinhood Markets, Inc. has a 1-year low of $22.72 and a 1-year high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The firm 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%.The firm's revenue was up 45.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Robinhood Markets Company 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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