Focus Financial Network Inc. Purchases Shares of 2,832 Robinhood Markets, Inc. $HOOD

Key Points

• Focus Financial Network Inc. invested approximately $265,000 in Robinhood Markets, acquiring 2,832 shares in the second quarter.
• Robinhood's stock had a significant performance increase, with a one-year high of $125.18 and a net margin of 50.13% reported in their latest earnings.
• Institutional investors hold 93.27% of Robinhood's stock, with several hedge funds recently increasing their stakes.

Focus Financial Network Inc. purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,832 shares of the company's stock, valued at approximately $265,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC grew its holdings in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares during the period. Hemington Wealth Management grew its holdings in shares of 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 buying an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 buying an additional 498 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. JMP Securities upped their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods upped their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Barclays upped their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Piper Sandler initiated coverage on shares of Robinhood Markets in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $120.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.88.

Robinhood Markets Price Performance

NASDAQ HOOD traded up $0.11 during trading on Monday, reaching $124.89. 33,421,887 shares of the company's stock were exchanged, compared to its average volume of 45,957,568. The business has a 50 day moving average price of $108.40 and a 200-day moving average price of $76.32. The stock has a market capitalization of $110.99 billion, a P/E ratio of 83.19, a PEG ratio of 4.62 and a beta of 2.36. Robinhood Markets, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $126.64.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for 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 business's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. On average, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $99.83, for a total value of $585,502.95. Following the sale, the chief technology officer owned 23,680 shares in the company, valued at $2,363,974.40. This represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 60,113 shares of the company's 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 completion of the sale, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,767,855 shares of company stock valued at $588,837,174. Company insiders own 19.95% of the company's stock.

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.