AGP Franklin LLC Purchases New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• AGP Franklin LLC has initiated a new investment in Robinhood Markets by acquiring 31,753 shares, valued at approximately $1.4 million.
• Robinhood's recent earnings report indicated $0.37 earnings per share, which fell short of analyst expectations of $0.41, despite a 50% increase in revenue year-over-year.
• Several analysts have increased their price targets for Robinhood, with estimates now ranging from $85.00 to $125.00, indicating strong market optimism.

AGP Franklin LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,753 shares of the company's stock, valued at approximately $1,400,000.

Other hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the 1st quarter valued at about $30,000. CoreCap Advisors LLC increased its position in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after buying an additional 550 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after buying an additional 498 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new position in Robinhood Markets during the 4th quarter valued at about $34,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares in the company, valued at approximately $16,035,476.94. This trade represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,026,690 shares of company stock worth $257,160,102 over the last quarter. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

NASDAQ HOOD traded down $2.40 during trading hours on Thursday, reaching $103.70. The company's stock had a trading volume of 46,980,536 shares, compared to its average volume of 41,610,332. The firm has a market capitalization of $91.82 billion, a price-to-earnings ratio of 58.87, a P/E/G ratio of 5.26 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $13.98 and a 1-year high of $113.44. The company's 50-day moving average is $85.42 and its two-hundred day moving average is $61.05.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The business 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 15.42% and a net margin of 48.77%. The business's quarterly 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. Equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. The Goldman Sachs Group boosted their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. JMP Securities boosted their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday. KeyCorp boosted their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Cantor Fitzgerald boosted their price target on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $94.06.

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.