Freedom Investment Management Inc. Invests $215,000 in Robinhood Markets, Inc. $HOOD

Key Points

• Freedom Investment Management Inc. has invested approximately $215,000 in Robinhood Markets, Inc., acquiring 5,157 shares as reported in their latest SEC filing.
• Several other institutional investors have increased their stakes in Robinhood, with 93.27% of the company's stock now owned by hedge funds and other institutional investors.
• Robinhood reported better-than-expected earnings, with $0.42 earnings per share, exceeding estimates by $0.12, and revenue rising by 45% year-over-year.

Freedom Investment Management Inc. acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,157 shares of the company's stock, valued at approximately $215,000.

Other large investors have also modified their holdings of the company. MetLife Investment Management LLC grew its stake in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares in the last quarter. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after purchasing an additional 265 shares in the last quarter. Allworth Financial LP grew its stake in shares of Robinhood Markets by 23.4% during the first quarter. Allworth Financial LP now owns 1,401 shares of the company's stock worth $58,000 after purchasing an additional 266 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its stake in shares of Robinhood Markets by 0.8% during the first quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after purchasing an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $109.39, for a total transaction of $45,761,993.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 385,485 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total transaction of $39,280,921.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,644,685 shares of company stock valued at $448,881,884. Corporate insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Morgan Stanley boosted their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Compass Point boosted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. JMP Securities upped their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Finally, Piper Sandler upped their price objective on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $103.69 on Friday. Robinhood Markets, Inc. has a 1 year low of $18.71 and a 1 year high of $117.70. The company has a market capitalization of $92.15 billion, a PE ratio of 52.63, a P/E/G ratio of 3.77 and a beta of 2.36. The company has a fifty day moving average of $101.18 and a two-hundred day moving average of $69.51.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business's quarterly revenue was up 45.0% compared to the same quarter last year. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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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