Chicago Partners Investment Group LLC Acquires Shares of 3,631 Robinhood Markets, Inc. $HOOD

Key Points

• Chicago Partners Investment Group LLC acquired 3,631 shares of Robinhood Markets, valued at approximately $371,000, during the 2nd quarter, as reported in a recent SEC filing.
• Institutional investors and hedge funds currently own 93.27% of Robinhood's stock, with several firms, including Vanguard Group and WCM Investment Management, significantly increasing their stakes in the company.
• Analysts have a consensus rating of "Moderate Buy" on Robinhood shares, with a target price range between $118.94 and $170, reflecting strong confidence in the company's growth potential.

Chicago Partners Investment Group LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,631 shares of the company's stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. WCM Investment Management LLC lifted its stake in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock valued at $1,081,910,000 after acquiring an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Robinhood Markets during the 2nd quarter valued at approximately $951,479,000. AGF Management Ltd. lifted its stake in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after acquiring an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Robinhood Markets by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after acquiring an additional 131,620 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the completion of the sale, the chief technology officer owned 11,952 shares of the company's stock, valued at approximately $1,763,278.56. The trade was a 32.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the sale, the insider directly owned 565,949 shares of the company's stock, valued at $83,952,874.66. The trade was a 4.23% decrease in their position. 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.

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research reports. 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 research note on Thursday, October 2nd. Keefe, Bruyette & Woods boosted 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 note on Thursday, July 31st. Citizens Jmp boosted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "mkt outperform" rating in a research note on Thursday, October 9th. Morgan Stanley boosted their target price 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. Finally, JMP Securities boosted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday, October 9th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.94.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $134.33 on Friday. The firm has a market cap of $119.38 billion, a PE ratio of 68.19, a PEG ratio of 3.30 and a beta of 2.42. The firm has a fifty day moving average of $122.90 and a 200 day moving average 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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm's revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities analysts predict 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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