Aragon Global Management LP Purchases 154,996 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Aragon Global Management LP increased its stake in Robinhood Markets by 215% in Q1, acquiring an additional 154,996 shares, bringing its total holdings to 227,096 shares worth approximately $9.45 million.
• Multiple institutional investors are actively reinvesting in Robinhood, with Whipplewood Advisors LLC increasing its holdings by 564.4%, now owning 598 shares valued at $25,000.
• Analysts have a consensus rating of "Moderate Buy" for Robinhood Markets, with price targets raised significantly by firms such as Barclays and Morgan Stanley, indicating bullish investor sentiment.

Aragon Global Management LP lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 215.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 227,096 shares of the company's stock after purchasing an additional 154,996 shares during the period. Robinhood Markets comprises approximately 3.6% of Aragon Global Management LP's portfolio, making the stock its 13th biggest holding. Aragon Global Management LP's holdings in Robinhood Markets were worth $9,452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in HOOD. Whipplewood Advisors LLC grew its holdings in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Robinhood Markets in the first quarter worth approximately $30,000. CoreCap Advisors LLC grew its holdings in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Finally, Pandora Wealth Inc. purchased a new stake in Robinhood Markets in the first quarter worth $33,000. Institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider directly owned 591,887 shares in the company, valued at $59,170,943.39. This trade represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,644,685 shares of company stock worth $448,881,884. Corporate insiders own 14.47% of the company's stock.

Robinhood Markets Trading Up 0.7%

Shares of Robinhood Markets stock opened at $103.69 on Friday. The firm has a market capitalization of $92.15 billion, a P/E ratio of 52.63, a P/E/G ratio of 3.77 and a beta of 2.36. The business has a fifty day simple moving average of $101.18 and a two-hundred day simple moving average of $69.51. Robinhood Markets, Inc. has a 12 month low of $18.71 and a 12 month high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company's revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HOOD. Barclays raised their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Morgan Stanley raised their price target on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. KeyCorp raised their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Cantor Fitzgerald raised their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Eleven equities research 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. Based on data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $100.31.

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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