Almanack Investment Partners LLC. Invests $1.19 Million in Robinhood Markets, Inc. $HOOD

Key Points

• Almanack Investment Partners LLC invested approximately $1.19 million in Robinhood Markets, acquiring 12,717 shares during the 2nd quarter.
• Several institutional investors, including Vanguard Group and Kingstone Capital Partners, have also increased their holdings in Robinhood, indicating strong interest in the company.
• Analysts have raised their price targets for Robinhood Markets, with Goldman Sachs increasing it from $134 to $152 and Morgan Stanley from $110 to $146, reflecting positive sentiment about the stock's performance.

Almanack Investment Partners LLC. acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 12,717 shares of the company's stock, valued at approximately $1,191,000.

Several other large investors have also modified their holdings of HOOD. Kingstone Capital Partners Texas LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth about $951,479,000. Vanguard Group Inc. raised its holdings in Robinhood Markets by 8.6% in the first 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 during the period. AGF Management Ltd. raised its holdings in Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares during the period. Wealthquest Corp purchased a new position in Robinhood Markets in the first quarter valued at approximately $156,193,000. Finally, Altimeter Capital Management LP purchased a new position in Robinhood Markets in the first quarter valued at approximately $120,103,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $147.53, for a total transaction of $865,115.92. Following the completion of the sale, the chief technology officer owned 11,952 shares of the company's stock, valued at approximately $1,763,278.56. This trade represents a 32.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's 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 directly owned 565,949 shares of the company's stock, valued at $83,952,874.66. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,566,947 shares of company stock valued at $606,609,792. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Stock Down 8.9%

Shares of NASDAQ:HOOD opened at $138.96 on Monday. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86. The company has a 50 day moving average of $118.70 and a two-hundred day moving average of $86.38. The company has a market capitalization of $123.49 billion, a price-to-earnings ratio of 70.54, a price-to-earnings-growth ratio of 3.77 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $893.93 million. During the same quarter last year, the company earned $0.21 earnings per share. Robinhood Markets's revenue for the quarter was up 45.0% on a year-over-year basis. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price target 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. Morgan Stanley raised their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Citizens Jmp raised their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "mkt outperform" rating in a report on Thursday. Finally, Keefe, Bruyette & Woods raised their price target 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. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $118.94.

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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