Carlyle Group Inc. Purchases New Position in Robinhood Markets, Inc. $HOOD

Key Points

• Carlyle Group Inc. acquired a new stake in Robinhood Markets, purchasing 2,497 shares valued at approximately $234,000, making it the 19th largest holding in its portfolio.
• Insider activity saw Director Baiju Bhatt sell 418,338 shares for over $55 million, while other insiders have collectively sold more than 5 million shares in the last three months.
• Robinhood's stock recently reached $139.79 and has demonstrated strong performance with a revenue increase of 45.0% year-over-year and topped EPS expectations.

Carlyle Group Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,497 shares of the company's stock, valued at approximately $234,000. Robinhood Markets comprises about 0.0% of Carlyle Group Inc.'s portfolio, making the stock its 19th largest holding.

Several other institutional investors have also added to or reduced their stakes in the company. True Vision MN LLC lifted its stake in Robinhood Markets by 1.7% in the second quarter. True Vision MN LLC now owns 6,858 shares of the company's stock worth $642,000 after purchasing an additional 116 shares during the last quarter. Forum Financial Management LP increased its position in shares of Robinhood Markets by 0.8% during the second quarter. Forum Financial Management LP now owns 17,997 shares of the company's stock worth $1,685,000 after acquiring an additional 134 shares during the period. Hemington Wealth Management increased its position in shares of Robinhood Markets by 22.5% during the second quarter. Hemington Wealth Management now owns 779 shares of the company's stock worth $72,000 after acquiring an additional 143 shares during the period. Ballentine Partners LLC increased its position in shares of Robinhood Markets by 2.3% during the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company's stock worth $620,000 after acquiring an additional 148 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of Robinhood Markets by 120.3% during the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock worth $25,000 after acquiring an additional 148 shares during the period. Institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $133.11, for a total value of $55,684,971.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares in the company, valued at approximately $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,175,598 shares of company stock worth $579,779,430 in the last 90 days. 14.47% of the stock is owned by insiders.

Robinhood Markets Stock Performance

NASDAQ HOOD traded up $5.46 on Friday, reaching $139.79. 24,247,531 shares of the company's stock traded hands, compared to its average volume of 31,021,190. The stock has a 50 day moving average price of $123.41 and a 200-day moving average price of $92.29. The firm has a market cap of $124.23 billion, a price-to-earnings ratio of 70.96, a P/E/G ratio of 3.49 and a beta of 2.42. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The business 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 quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. KeyCorp raised their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Bank of America lifted their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Morgan Stanley lifted their price objective on shares of 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 objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Barclays lifted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $118.94.

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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