61,959 Shares in Robinhood Markets, Inc. $HOOD Purchased by Hartline Investment Corp

Key Points

• Hartline Investment Corp purchased 61,959 shares of Robinhood Markets, valued at approximately $5.8 million, indicating a growing institutional interest in the stock.
• CEO Vladimir Tenev sold 750,000 shares for over $104 million, raising concerns about insider selling as institutional investors own over 93% of the company's stock.
• Robinhood recently posted a 45% increase in quarterly revenue year-over-year, reporting $0.42 EPS which surpassed analysts' expectations.

Hartline Investment Corp purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 61,959 shares of the company's stock, valued at approximately $5,801,000.

A number of other hedge funds have also bought and sold shares of HOOD. WCM Investment Management LLC increased its position 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 period. Kingstone Capital Partners Texas LLC bought a new position in Robinhood Markets during the second quarter worth about $951,479,000. Vanguard Group Inc. increased its position 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 period. AGF Management Ltd. increased its position 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 period. Finally, Wealthquest Corp bought a new position in Robinhood Markets in the 1st quarter valued at about $156,193,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Trading Down 1.2%

HOOD opened at $129.91 on Friday. The company's 50 day moving average is $121.26 and its 200-day moving average is $88.95. Robinhood Markets, Inc. has a 1-year low of $23.00 and a 1-year high of $153.86. The company has a market cap of $115.45 billion, a P/E ratio of 65.94, a PEG ratio of 3.47 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly 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. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the company posted $0.21 EPS. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. On average, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the sale, the insider owned 565,949 shares in the company, valued at approximately $83,952,874.66. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,181,462 shares of company stock worth $567,328,871 over the last quarter. Insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods raised their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. JMP Securities raised their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "market outperform" rating in a report on Thursday, October 9th. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Finally, Citizens Jmp raised their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "mkt outperform" rating in a report on Thursday, October 9th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $118.94.

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.

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