CloudAlpha Capital Management Limited Hong Kong Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• CloudAlpha Capital Management Limited acquired a new stake in Robinhood Markets, purchasing 431,339 shares valued at approximately $17.95 million, making Robinhood the firm's 14th biggest holding.
• Analysts have raised their price targets on Robinhood Markets, with Goldman Sachs updating its target from $91 to $104 and Morgan Stanley from $43 to $110, reflecting a consensus price target of $85.29.
• Insider selling activity has been significant, with director Baiju Bhatt selling over 418,000 shares and CEO Vladimir Tenev selling 750,000 shares, indicating a total insider sale of approximately $218.7 million in the last ninety days.

CloudAlpha Capital Management Limited Hong Kong bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 431,339 shares of the company's stock, valued at approximately $17,952,000. Robinhood Markets comprises about 1.4% of CloudAlpha Capital Management Limited Hong Kong's holdings, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOOD. Drive Wealth Management LLC acquired a new position in shares of Robinhood Markets during the 1st quarter worth approximately $655,000. Assetmark Inc. increased its holdings in shares of Robinhood Markets by 18,235.6% during the 1st quarter. Assetmark Inc. now owns 116,431 shares of the company's stock worth $4,846,000 after acquiring an additional 115,796 shares during the last quarter. Navellier & Associates Inc. acquired a new position in shares of Robinhood Markets during the 1st quarter worth approximately $2,075,000. Nicholas Wealth LLC. acquired a new position in shares of Robinhood Markets during the 1st quarter worth approximately $1,111,000. Finally, Cetera Investment Advisers increased its holdings in shares of Robinhood Markets by 169.8% during the 1st quarter. Cetera Investment Advisers now owns 279,360 shares of the company's stock worth $11,627,000 after acquiring an additional 175,809 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HOOD. Piper Sandler boosted their target price on Robinhood Markets from $70.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Cantor Fitzgerald boosted their target price on Robinhood Markets from $89.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. JMP Securities boosted their price target on Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Redburn Atlantic restated a "sell" rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $85.29.

Robinhood Markets Stock Performance

Shares of HOOD stock traded up $2.92 on Friday, hitting $104.85. The company had a trading volume of 35,546,767 shares, compared to its average volume of 55,217,080. The firm has a market cap of $92.84 billion, a P/E ratio of 59.57, a P/E/G ratio of 5.20 and a beta of 2.36. The stock's 50-day moving average is $82.95 and its two-hundred day moving average is $59.71. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The business had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. During the same quarter in the previous year, the company earned $0.18 EPS. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 385,485 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total transaction of $39,280,921.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 92,257 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the sale, the insider owned 136,364 shares in the company, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,696,644 shares of company stock worth $218,696,575 over the last quarter. 14.47% of the stock is owned by company insiders.

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.