Clare Market Investments LLC Grows Stake in Robinhood Markets, Inc. $HOOD

Key Points

• Clare Market Investments LLC increased its stake in Robinhood Markets, acquiring an additional 2,735 shares, bringing its total holdings to 25,585 shares valued at approximately $2.4 million.
• Robinhood reported a strong earnings performance with an EPS of $0.42 for the quarter, surpassing expectations of $0.30, and seeing a 45% increase in revenue year-over-year.
• Insiders have sold significant portions of their shares recently, with one insider selling 225,000 shares, indicating a 27.54% decrease in their ownership position.

Clare Market Investments LLC increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,585 shares of the company's stock after acquiring an additional 2,735 shares during the quarter. Clare Market Investments LLC's holdings in Robinhood Markets were worth $2,396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of HOOD. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. AGF Management Ltd. raised its position in shares of Robinhood Markets by 286.0% in 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. Charles Schwab Investment Management Inc. raised its holdings 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 worth $201,913,000 after buying an additional 131,620 shares during the period. Northern Trust Corp grew its stake in shares of Robinhood Markets by 4.2% during the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock worth $169,035,000 after acquiring an additional 163,823 shares in the last quarter. Finally, Wealthquest Corp bought a new position in shares of Robinhood Markets during the 1st quarter worth approximately $156,193,000. Institutional investors own 93.27% of the company's stock.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company's stock, valued at $59,170,943.39. This represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,767,855 shares of company stock valued at $588,837,174. Insiders own 14.47% of the company's stock.

Robinhood Markets Trading Up 3.2%

Shares of HOOD stock traded up $3.87 during trading hours on Friday, reaching $124.78. The company's stock had a trading volume of 202,254,907 shares, compared to its average volume of 37,834,256. The stock has a market capitalization of $110.89 billion, a P/E ratio of 63.34, a P/E/G ratio of 4.48 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $22.05 and a one year high of $125.18. The firm's fifty day simple moving average is $108.40 and its 200 day simple moving average is $75.91.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly 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 return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same period in the previous year, the company posted $0.21 earnings per share. The firm's revenue was up 45.0% on a year-over-year basis. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the subject of several analyst reports. Redburn Atlantic reissued a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Cantor Fitzgerald boosted their price target on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Citigroup boosted their target price on Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Compass Point upped their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, JMP Securities boosted their price target on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus target price of $101.88.

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.