Fagan Associates Inc. Invests $1.93 Million in Robinhood Markets, Inc. (NASDAQ:HOOD)

Fagan Associates Inc. bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 46,270 shares of the company's stock, valued at approximately $1,926,000.

Other large investors have also made changes to their positions in the company. HighTower Advisors LLC raised its stake in Robinhood Markets by 57.6% in the 4th quarter. HighTower Advisors LLC now owns 47,232 shares of the company's stock valued at $1,760,000 after purchasing an additional 17,264 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Robinhood Markets by 26.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 109,033 shares of the company's stock valued at $4,063,000 after purchasing an additional 22,508 shares during the last quarter. Natixis Advisors LLC raised its stake in Robinhood Markets by 9.7% in the 4th quarter. Natixis Advisors LLC now owns 37,261 shares of the company's stock valued at $1,388,000 after purchasing an additional 3,281 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Robinhood Markets in the 4th quarter valued at $314,000. Finally, Harbour Investments Inc. raised its stake in Robinhood Markets by 81.9% in the 4th quarter. Harbour Investments Inc. now owns 2,676 shares of the company's stock valued at $100,000 after purchasing an additional 1,205 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 92,257 shares of Robinhood Markets stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the completion of the transaction, the insider directly owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Monday, July 7th. The stock was sold at an average price of $93.51, for a total value of $548,342.64. Following the transaction, the chief technology officer directly owned 8,908 shares of the company's stock, valued at approximately $832,987.08. This represents a 39.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,749,630 shares of company stock valued at $221,118,663. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Down 0.8%

NASDAQ:HOOD traded down $0.87 during mid-day trading on Monday, reaching $108.87. 8,209,908 shares of the stock were exchanged, compared to its average volume of 30,990,725. The company has a 50 day simple moving average of $78.73 and a 200-day simple moving average of $57.81. The stock has a market capitalization of $96.40 billion, a P/E ratio of 61.56, a P/E/G ratio of 5.60 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $13.98 and a 1 year high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The company had revenue of $927.00 million during the quarter, compared to analysts' expectations of $917.12 million. During the same quarter last year, the business posted $0.18 earnings per share. The company's revenue for the quarter was up 50.0% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JMP Securities increased their price objective on Robinhood Markets from $70.00 to $125.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Morgan Stanley upped their target price on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Barclays upped their target price on Robinhood Markets from $57.00 to $102.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Piper Sandler increased their price target on Robinhood Markets from $70.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group increased their price target on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus price target of $85.29.

Robinhood Markets 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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