Cumberland Partners Ltd Invests $1.25 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Cumberland Partners Ltd has invested approximately $1.25 million in Robinhood Markets, acquiring 30,000 shares in the first quarter of the year.
• Robinhood's stock is currently down 3.1%, with a market capitalization of about $88.46 billion, and the company reported a quarterly revenue increase of 45% year-over-year.
• Over 93% of Robinhood's stock is held by institutional investors, with significant stake increases from firms like PNC Financial Services and Jupiter Asset Management in the same quarter.

Cumberland Partners Ltd acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 30,000 shares of the company's stock, valued at approximately $1,249,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in shares of Robinhood Markets by 366.8% in the first quarter. PNC Financial Services Group Inc. now owns 31,389 shares of the company's stock worth $1,306,000 after acquiring an additional 24,664 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Robinhood Markets in the 1st quarter worth about $3,203,000. Wealthquest Corp bought a new position in Robinhood Markets in the 1st quarter worth about $156,193,000. Harbour Investments Inc. grew its position in Robinhood Markets by 731.7% during the 1st quarter. Harbour Investments Inc. now owns 22,257 shares of the company's stock valued at $926,000 after purchasing an additional 19,581 shares during the last quarter. Finally, Menard Financial Group LLC bought a new stake in Robinhood Markets during the 1st quarter valued at about $251,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Down 3.1%

Robinhood Markets stock opened at $99.90 on Friday. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $113.44. The company has a market cap of $88.46 billion, a P/E ratio of 50.71, a P/E/G ratio of 5.19 and a beta of 2.36. The business has a 50-day simple moving average of $86.92 and a two-hundred day simple moving average of $61.89.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.69%. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter last year, the firm posted $0.21 earnings per share. The firm's revenue was up 45.0% compared to the same quarter last year. Research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the sale, the insider directly owned 228,621 shares of the company's stock, valued at $16,035,476.94. This represents a 31.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,026,690 shares of company stock worth $257,160,102 in the last 90 days. 14.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Keefe, Bruyette & Woods upped their price objective on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday. Mizuho set a $120.00 target price on Robinhood Markets and gave the stock an "outperform" rating in a report on Thursday. Barclays upped their price target on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Cantor Fitzgerald increased their price objective on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.29.

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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