Diversified Enterprises LLC Invests $248,000 in Robinhood Markets, Inc. $HOOD

Key Points

• Diversified Enterprises LLC has invested approximately $248,000 in Robinhood Markets, acquiring 2,652 shares in the second quarter, according to their recent 13F filing.
• Several other hedge funds have also increased their stakes in Robinhood, with institutional investors now owning 93.27% of the stock.
• Analysts maintain a positive outlook, with a consensus average price target of $104.06 and most ratings categorized as "Moderate Buy".

Diversified Enterprises LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,652 shares of the company's stock, valued at approximately $248,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Robinhood Markets in the fourth quarter worth $4,886,000. Siemens Fonds Invest GmbH purchased a new position in Robinhood Markets during the 4th quarter worth $217,000. Wellington Management Group LLP bought a new stake in shares of Robinhood Markets during the 4th quarter worth $588,000. MassMutual Private Wealth & Trust FSB raised its stake in Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after acquiring an additional 498 shares during the period. Finally, AdvisorNet Financial Inc grew its holdings in Robinhood Markets by 103.0% during the 1st quarter. AdvisorNet Financial Inc now owns 6,846 shares of the company's stock valued at $285,000 after buying an additional 3,474 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company's stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,462 shares of company stock valued at $581,726,917 over the last 90 days. 14.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler reissued an "overweight" rating and set a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Morgan Stanley lifted their target price on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report 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 research report on Friday, June 27th. Finally, JMP Securities increased their price target on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average price target of $104.06.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $121.78 on Friday. The stock's 50 day moving average price is $110.49 and its 200 day moving average price is $79.04. Robinhood Markets, Inc. has a 12 month low of $22.05 and a 12 month high of $130.07. The stock has a market cap of $108.22 billion, a price-to-earnings ratio of 61.82, a PEG ratio of 4.34 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The firm's revenue for the quarter was up 45.0% on a year-over-year basis. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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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