Blue Sky Capital Consultants Group Inc. Has $5.52 Million Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Blue Sky Capital Consultants Group Inc. increased its stake in Robinhood Markets by 11.3% in the second quarter, bringing its total holdings to $5.52 million.
• Institutional investors and hedge funds own approximately 93.27% of Robinhood Markets' stock, indicating strong institutional interest in the company.
• Analysts have revised their target prices for Robinhood Markets, with JMP Securities increasing their target from $130.00 to $170.00, reflecting positive sentiment and a consensus rating of "Moderate Buy."

Blue Sky Capital Consultants Group Inc. grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 11.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,929 shares of the company's stock after buying an additional 6,001 shares during the quarter. Robinhood Markets accounts for about 2.8% of Blue Sky Capital Consultants Group Inc.'s investment portfolio, making the stock its 14th biggest holding. Blue Sky Capital Consultants Group Inc.'s holdings in Robinhood Markets were worth $5,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HOOD. HighTower Advisors LLC boosted its holdings in Robinhood Markets by 6.4% during the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after purchasing an additional 3,032 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after purchasing an additional 1,186 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Robinhood Markets by 3.1% during the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after purchasing an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Robinhood Markets by 125.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after purchasing an additional 10,703 shares during the last quarter. Finally, Metavasi Capital LP boosted its holdings in Robinhood Markets by 275.0% during the first quarter. Metavasi Capital LP now owns 75,000 shares of the company's stock worth $3,122,000 after purchasing an additional 55,000 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Analysts Set New Price Targets

HOOD has been the subject of several recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of Robinhood Markets in a report on Wednesday, October 8th. JMP Securities increased their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, October 9th. Citigroup increased their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Cantor Fitzgerald increased their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Morgan Stanley increased their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 1st. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.94.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,175,598 shares of company stock valued at $579,779,430. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $134.33 on Friday. The stock has a market cap of $119.38 billion, a P/E ratio of 68.19, a P/E/G ratio of 3.30 and a beta of 2.42. The company has a fifty day moving average price of $122.90 and a two-hundred day moving average price of $91.56. Robinhood Markets, Inc. has a one year low of $23.00 and a one year high of $153.86.

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

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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