Eagle Strategies LLC Makes New $232,000 Investment in Robinhood Markets, Inc. $HOOD

Key Points

• Eagle Strategies LLC has made a new investment of approximately $232,000 in Robinhood Markets, acquiring 2,475 shares during the second quarter.
• Wall Street analysts have raised their target prices for Robinhood Markets, with JMP Securities setting a target of $170.00 and Barclays at $120.00, indicating a generally positive outlook.
• Insider trading activities include CEO Vladimir Tenev selling 750,000 shares for over $104 million, while insiders collectively sold over 5.6 million shares worth over $618 million last quarter.

Eagle Strategies LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,475 shares of the company's stock, valued at approximately $232,000.

A number of other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC raised its holdings in Robinhood Markets by 6.4% during the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after purchasing an additional 3,032 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,186 shares during the last quarter. Wellington Management Group LLP increased its stake in Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock valued at $677,000 after purchasing an additional 486 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock valued at $799,000 after purchasing an additional 10,703 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Robinhood Markets during the first quarter valued at about $277,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JMP Securities upped their target price on Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday. Barclays upped their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler reiterated an "overweight" rating and set a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Cantor Fitzgerald increased their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Citizens Jmp raised their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a "mkt outperform" rating in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $118.94.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $152.46 on Friday. The stock has a fifty day moving average price of $117.92 and a two-hundred day moving average price of $85.18. The firm has a market cap of $135.49 billion, a P/E ratio of 77.39, a PEG ratio of 4.19 and a beta of 2.42. 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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm's quarterly revenue was up 45.0% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. On average, research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the completion of the sale, the insider directly owned 565,949 shares of the company's stock, valued at $83,952,874.66. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681,122 shares of company stock worth $618,215,681. 14.47% of the stock is owned by 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.

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