Aaron Wealth Advisors LLC Acquires Shares of 4,160 Robinhood Markets, Inc. $HOOD

Key Points

• Aaron Wealth Advisors LLC acquired 4,160 shares of Robinhood Markets, Inc., valued at approximately $390,000, during the second quarter.
• Insider sales at Robinhood included 225,000 shares sold by Daniel Martin Gallagher, Jr. and 1.57 million shares sold by Director Baiju Bhatt, totaling over $179 million in transactions.
• Robinhood Markets, Inc. recently posted earnings of $0.42 EPS, surpassing analysts' expectations, with quarterly revenue up 45.0% year-on-year.

Aaron Wealth Advisors LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,160 shares of the company's stock, valued at approximately $390,000.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC lifted its stake in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after buying an additional 508 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter worth about $30,000. Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets during the 1st quarter worth about $33,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after buying an additional 498 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HOOD. Barclays raised their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Mizuho lifted their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. Finally, Morgan Stanley lifted their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.88.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $99.83, for a total transaction of $585,502.95. Following the transaction, the chief technology officer directly owned 23,680 shares of the company's stock, valued at $2,363,974.40. This represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The disclosure for this sale can be found here. Insiders sold a total of 5,767,855 shares of company stock valued at $588,837,174 over the last 90 days. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $0.88 during trading on Monday, reaching $123.90. The stock had a trading volume of 11,929,043 shares, compared to its average volume of 42,310,434. Robinhood Markets, Inc. has a 52 week low of $22.05 and a 52 week high of $125.18. The firm's fifty day moving average is $108.40 and its 200 day moving average is $76.32. The stock has a market cap of $110.11 billion, a price-to-earnings ratio of 62.81, a P/E/G ratio of 4.62 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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 net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period in the prior year, the company posted $0.21 earnings per share. Robinhood Markets's revenue for the quarter was up 45.0% compared to the same quarter last year. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.