Amanah Holdings Trust Takes Position in Robinhood Markets, Inc. $HOOD

Key Points

• Amanah Holdings Trust purchased 327,697 shares of Robinhood Markets, valued at approximately $30.69 million, making it the 8th largest position in its portfolio.
• Insider Meyer Malka sold over 1 million shares of Robinhood for about $113.56 million, resulting in a 21.57% decrease in their position.
• Robinhood Markets has an average target price of $101.88 according to market analysts, with most ratings being either "Buy" or "Hold".

Amanah Holdings Trust bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 327,697 shares of the company's stock, valued at approximately $30,689,000. Robinhood Markets comprises about 7.7% of Amanah Holdings Trust's portfolio, making the stock its 8th biggest position.

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

Insider Buying and Selling at Robinhood Markets

In related news, Director Meyer Malka sold 1,093,288 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. 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 ninety days. 19.95% of the stock is owned by insiders.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $115.03 on Monday. Robinhood Markets, Inc. has a fifty-two week low of $21.50 and a fifty-two week high of $123.44. The business has a 50-day moving average of $105.99 and a two-hundred day moving average of $73.80. The stock has a market capitalization of $102.22 billion, a P/E ratio of 58.39, a P/E/G ratio of 4.11 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 return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same quarter in the previous year, the firm earned $0.21 EPS. The firm's revenue was up 45.0% compared to the same quarter last year. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. JMP Securities lifted their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Morgan Stanley lifted their price target on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group lifted their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Citigroup lifted their price target on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $101.88.

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.

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