Bayforest Capital Ltd Purchases New Shares in Robinhood Markets, Inc. $HOOD

Key Points

• Bayforest Capital Ltd acquired a new stake in Robinhood Markets, purchasing 11,111 shares valued at approximately $1,040,000 during the second quarter.
• Several institutional investors, including Sagespring Wealth Partners and TD Asset Management, significantly increased their holdings in Robinhood, with 93.27% of the stock now owned by institutional investors.
• Insider selling was notable, with CTO Jeffrey Pinner and Director Baiju Bhatt selling large amounts of stock, while the average price target from analysts for Robinhood Markets is set at $118.94.

Bayforest Capital Ltd purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,111 shares of the company's stock, valued at approximately $1,040,000.

A number of other large investors also recently made changes to their positions in the company. Sagespring Wealth Partners LLC lifted its position in shares of Robinhood Markets by 52.4% during the second quarter. Sagespring Wealth Partners LLC now owns 9,400 shares of the company's stock valued at $880,000 after purchasing an additional 3,230 shares in the last quarter. TD Asset Management Inc raised its position in Robinhood Markets by 20.9% in the second quarter. TD Asset Management Inc now owns 390,839 shares of the company's stock worth $36,594,000 after acquiring an additional 67,666 shares during the period. Axxcess Wealth Management LLC raised its position in Robinhood Markets by 67.7% in the second quarter. Axxcess Wealth Management LLC now owns 28,910 shares of the company's stock worth $2,707,000 after acquiring an additional 11,673 shares during the period. Moran Wealth Management LLC bought a new stake in Robinhood Markets in the second quarter worth about $371,000. Finally, Nadler Financial Group Inc. bought a new stake in Robinhood Markets in the second quarter worth about $361,000. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets 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 directly owned 11,952 shares in the company, valued at $1,763,278.56. The trade was a 32.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 10th. The shares were 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 5,566,947 shares of company stock valued at $606,609,792 over the last quarter. Company insiders own 19.95% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Robinhood Markets in a research report on Wednesday, October 8th. Needham & Company LLC lifted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Citizens Jmp lifted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a "mkt outperform" rating in a research note on Thursday, October 9th. Mizuho lifted their target price 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, KeyCorp lifted their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $118.94.

Robinhood Markets Trading Up 1.2%

Shares of NASDAQ:HOOD opened at $140.68 on Tuesday. The company has a 50 day moving average of $119.39 and a 200 day moving average of $87.08. The stock has a market cap of $125.02 billion, a P/E ratio of 71.41, a P/E/G ratio of 3.77 and a beta of 2.42. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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. 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 quarter in the previous 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 forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.

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