Callan Family Office LLC Acquires Shares of 12,291 Robinhood Markets, Inc. $HOOD

Key Points

• Callan Family Office LLC acquired 12,291 shares of Robinhood Markets, valued at approximately $1.15 million, signaling renewed institutional interest in the stock.
• Robinhood Markets reported a significant earnings beat, with a 45% increase in revenue year-over-year, leading to a reported EPS of $0.42 compared to the consensus estimate of $0.30.
• Insiders have sold a substantial number of shares recently, with CEO Vladimir Tenev alone selling 750,000 shares for over $104 million, indicating potential concerns about stock performance and insider sentiment.

Callan Family Office LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,291 shares of the company's stock, valued at approximately $1,151,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. True Vision MN LLC lifted its position in shares of Robinhood Markets by 1.7% during the 2nd quarter. True Vision MN LLC now owns 6,858 shares of the company's stock worth $642,000 after buying an additional 116 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Robinhood Markets by 2.3% in the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock valued at $620,000 after buying an additional 148 shares during the period. REAP Financial Group LLC increased its stake in shares of Robinhood Markets by 44.1% in the second quarter. REAP Financial Group LLC now owns 523 shares of the company's stock valued at $49,000 after buying an additional 160 shares during the period. Cigna Investments Inc. New grew its stake in Robinhood Markets by 2.7% during the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after purchasing an additional 174 shares during the period. Finally, Hemington Wealth Management grew its stake in Robinhood Markets by 52.2% during 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 period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 8.9%

Robinhood Markets stock opened at $138.96 on Monday. The company has a market capitalization of $123.49 billion, a P/E ratio of 70.54, a PEG ratio of 3.77 and a beta of 2.42. The stock's 50 day moving average is $118.70 and its 200 day moving average is $86.38. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results 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 for the quarter, compared to the consensus estimate 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 was up 45.0% compared to the same quarter last year. During the same period last year, the business posted $0.21 EPS. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler reaffirmed an "overweight" rating and set a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Morgan Stanley raised their target price on Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Cantor Fitzgerald lifted their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Citigroup lifted their price target on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Finally, The Goldman Sachs Group boosted their target price on Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Twelve research 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $118.94.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the sale, the insider owned 591,887 shares of the company's stock, valued at $59,170,943.39. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,566,947 shares of company stock valued at $606,609,792. Insiders own 19.95% of the company's stock.

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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