Clear Creek Financial Management LLC Invests $1.83 Million in Robinhood Markets, Inc. $HOOD

Key Points

• Clear Creek Financial Management LLC made a new investment in Robinhood Markets, acquiring 19,507 shares valued at approximately $1.83 million.
• Several hedge funds have modified their positions in Robinhood, with institutional investors now owning 93.27% of the company's stock.
• Analysts have raised price targets for Robinhood, with Barclays setting a new target of $120.00 and Goldman Sachs raising it to $152.00, reflecting strong confidence in the stock's performance.

Clear Creek Financial Management LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,507 shares of the company's stock, valued at approximately $1,826,000.

A number of other hedge funds also recently modified their holdings of HOOD. Hemington Wealth Management increased its position in shares of Robinhood Markets by 52.2% in 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. Wayfinding Financial LLC bought a new position in shares of Robinhood Markets in the first quarter worth $30,000. Pandora Wealth Inc. bought a new position in shares of Robinhood Markets in the first quarter worth $33,000. V Square Quantitative Management LLC bought a new position in shares of Robinhood Markets in the second quarter worth $36,000. Finally, Colonial Trust Advisors increased its position in shares of Robinhood Markets by 125.0% in the first quarter. Colonial Trust Advisors now owns 900 shares of the company's stock worth $37,000 after purchasing an additional 500 shares during the period. Institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays raised their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Mizuho raised their price target on Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a research report on Wednesday. Compass Point lifted their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group lifted their target price on Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Twelve research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.94.

Robinhood Markets Trading Up 1.1%

NASDAQ:HOOD opened at $152.46 on Friday. The stock has a market cap of $135.49 billion, a P/E ratio of 77.39, a price-to-earnings-growth ratio of 4.19 and a beta of 2.42. The stock's 50-day moving average is $117.92 and its 200-day moving average is $85.18. Robinhood Markets, Inc. has a 1-year low of $23.00 and a 1-year high of $153.86.

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, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 earnings per share. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,681,122 shares of company stock valued at $618,215,681. Corporate insiders own 14.47% 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.

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