6,167 Shares in Robinhood Markets, Inc. $HOOD Acquired by Doliver Advisors LP

Key Points

• Doliver Advisors LP acquired 6,167 shares of Robinhood Markets, valued at around $577,000, marking a new investment in the company during the second quarter.
• The company reported a 45.0% year-over-year increase in revenue, reaching $989 million, and exceeded earnings per share estimates for the quarter.
• Several analysts raised their price targets for Robinhood Markets, with Mizuho setting a new target of $145.00 and maintaining an "outperform" rating on the stock.

Doliver Advisors LP purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,167 shares of the company's stock, valued at approximately $577,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Robinhood Markets by 8.6% in the 1st 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 in the last quarter. AGF Management Ltd. lifted its stake in Robinhood Markets by 286.0% in the 1st 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 in the last quarter. Wealthquest Corp purchased a new stake in Robinhood Markets in the 1st quarter worth about $156,193,000. Southpoint Capital Advisors LP purchased a new stake in Robinhood Markets in the 4th quarter worth about $130,410,000. Finally, Altimeter Capital Management LP purchased a new stake in Robinhood Markets in the 1st quarter worth about $120,103,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the sale, the insider owned 610,949 shares of the company's stock, valued at approximately $61,656,973.08. This trade represents a 3.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. Insiders have sold 5,773,719 shares of company stock worth $589,293,510 in the last three months. Company insiders own 19.95% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on HOOD. Needham & Company LLC increased their price objective on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Keefe, Bruyette & Woods raised their price target 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. Compass Point raised their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Mizuho raised 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. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus price target of $101.88.

Robinhood Markets Trading Up 2.2%

HOOD traded up $2.55 during midday trading on Tuesday, reaching $117.38. The company's stock had a trading volume of 35,676,441 shares, compared to its average volume of 41,625,621. The stock has a market cap of $104.31 billion, a P/E ratio of 59.58, a PEG ratio of 4.11 and a beta of 2.36. The company has a fifty day simple moving average of $106.42 and a 200 day simple moving average of $74.26. Robinhood Markets, Inc. has a twelve month low of $22.05 and a twelve month high of $123.44.

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 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 analyst estimates of $893.93 million. During the same quarter last year, the firm earned $0.21 EPS. Robinhood Markets's revenue for the quarter was up 45.0% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.