Ewa LLC Makes New Investment in Robinhood Markets, Inc. $HOOD

Key Points

• Ewa LLC made a new investment in Robinhood Markets by purchasing 3,912 shares valued at approximately $366,000 during the 2nd quarter of the year.
• Robinhood Markets reported EPS of $0.42 for the last quarter, exceeding analysts' expectations, with a revenue increase of 45.0% year-over-year.
• Multiple research firms have revised their price targets for Robinhood, with Citigroup setting a target of $135.00 and Morgan Stanley raising their target to $146.00.

Ewa LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,912 shares of the company's stock, valued at approximately $366,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $951,479,000. Vanguard Group Inc. raised its holdings in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares in the last quarter. AGF Management Ltd. raised its holdings in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after acquiring an additional 4,255,862 shares in the last quarter. Wealthquest Corp purchased a new stake in Robinhood Markets during the 1st quarter valued at $156,193,000. Finally, Altimeter Capital Management LP purchased a new stake in Robinhood Markets during the 1st quarter valued at $120,103,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Down 2.8%

HOOD opened at $139.14 on Thursday. Robinhood Markets, Inc. has a 12-month low of $22.05 and a 12-month high of $143.62. The business's fifty day simple moving average is $112.70 and its 200-day simple moving average is $80.86. The company has a market capitalization of $123.65 billion, a price-to-earnings ratio of 70.63, a PEG ratio of 5.10 and a beta of 2.42.

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 analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the prior year, the company earned $0.21 EPS. The business's revenue was up 45.0% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on HOOD. Citigroup increased their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. Morgan Stanley increased their price target on Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a report on Wednesday. JMP Securities increased their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. KeyCorp increased their price target on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Barclays increased their price target on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $110.88.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider owned 94,454 shares of the company's stock, valued at approximately $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,906,462 shares of company stock valued at $509,427,417 in the last 90 days. 14.47% of the stock is owned by insiders.

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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