Blue Sky Capital Consultants Group Inc. Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Blue Sky Capital Consultants Group Inc. invested approximately $2.20 million in Robinhood Markets, acquiring 52,928 shares, which accounts for 1.4% of its portfolio.
• Robinhood reported a 45% year-over-year increase in revenue for the quarter, totaling $989 million, and also exceeded earnings expectations with an EPS of $0.42.
• Several investment firms, including Goldman Sachs and Citigroup, have raised their price targets for Robinhood stock, indicating a generally positive outlook from analysts.

Blue Sky Capital Consultants Group Inc. purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 52,928 shares of the company's stock, valued at approximately $2,203,000. Robinhood Markets comprises about 1.4% of Blue Sky Capital Consultants Group Inc.'s holdings, making the stock its 24th biggest holding.

Several other large investors have also made changes to their positions in the business. TD Private Client Wealth LLC increased its stake in shares of Robinhood Markets by 184.4% in the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock valued at $76,000 after purchasing an additional 1,186 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Robinhood Markets in the first quarter valued at approximately $277,000. Burns Matteson Capital Management LLC purchased a new stake in shares of Robinhood Markets in the first quarter valued at approximately $495,000. Fiduciary Alliance LLC acquired a new position in shares of Robinhood Markets during the 1st quarter worth approximately $2,177,000. Finally, Invesco Ltd. increased its holdings in Robinhood Markets by 132.6% in the 4th quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock worth $106,847,000 after acquiring an additional 1,634,599 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday. Barclays boosted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday. KeyCorp raised their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group raised their price objective on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Robinhood Markets Trading Down 3.1%

HOOD traded down $3.15 on Friday, hitting $99.90. The company had a trading volume of 76,566,177 shares, compared to its average volume of 47,307,080. The company's fifty day moving average price is $86.92 and its 200 day moving average price is $62.11. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $113.44. The firm has a market cap of $88.46 billion, a P/E ratio of 50.71, a PEG ratio of 4.59 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 firm 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 firm earned $0.21 EPS. The firm's revenue for the quarter was up 45.0% on a year-over-year basis. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the sale, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,026,690 shares of company stock valued at $257,160,102. Corporate insiders own 19.95% of the company's stock.

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.