EJF Capital LLC Acquires Shares of 10,000 Robinhood Markets, Inc. $HOOD

Key Points

• EJF Capital LLC acquired a new position in Robinhood Markets, purchasing 10,000 shares valued at approximately $416,000 in the first quarter.
• Robinhood reported a 45% increase in revenue year-over-year for its latest quarter, with earnings per share of $0.42, surpassing analysts' expectations.
• Insider trading activity includes notable sales, such as 225,000 shares sold by Daniel Martin Gallagher, Jr., reflecting a 27.54% decrease in ownership.

EJF Capital LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company's stock, valued at approximately $416,000.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC lifted its holdings in shares of Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares in the last quarter. Hemington Wealth Management lifted its stake in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Robinhood Markets in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC lifted its stake in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after acquiring an additional 550 shares in the last quarter. Finally, Pandora Wealth Inc. bought a new stake in Robinhood Markets in the 1st quarter valued at approximately $33,000. Institutional investors own 93.27% of the company's stock.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $109.39, for a total transaction of $45,761,993.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the sale, the insider directly owned 610,949 shares in the company, valued at $61,656,973.08. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,767,854 shares of company stock valued at $569,828,413. 14.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on HOOD. The Goldman Sachs Group boosted their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Cantor Fitzgerald boosted their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC boosted their target price on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Morgan Stanley boosted 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. Finally, Mizuho boosted their target price on Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Price Performance

NASDAQ HOOD traded down $1.66 on Friday, hitting $101.25. 60,005,141 shares of the stock were exchanged, compared to its average volume of 34,243,404. The business's fifty day moving average is $103.72 and its 200 day moving average is $71.31. Robinhood Markets, Inc. has a 52 week low of $18.71 and a 52 week high of $117.70. The company has a market capitalization of $89.98 billion, a PE ratio of 51.40, a P/E/G ratio of 3.71 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The company's quarterly revenue was up 45.0% compared to the same quarter last year. Analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.