GC Wealth Management RIA LLC Invests $3.61 Million in Robinhood Markets, Inc. $HOOD

Key Points

• GC Wealth Management RIA LLC invested approximately **$3.61 million** in Robinhood Markets, acquiring **38,540 shares** during the second quarter, a move indicating strong institutional interest in the company.
• Several analysts have increased their price targets for Robinhood, with Cantor Fitzgerald setting a target of **$118** and Morgan Stanley adjusting theirs to **$110**, reflecting a positive outlook on the stock.
• Insider selling activity has been significant, with CTO Jeffrey Tsvi Pinner selling **5,864 shares** and Director Baiju Bhatt sold **418,338 shares**, raising concerns about insider confidence in the stock.

GC Wealth Management RIA LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,540 shares of the company's stock, valued at approximately $3,608,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC lifted its stake in shares of Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after acquiring an additional 508 shares during the period. Hemington Wealth Management lifted its stake in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter worth approximately $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the 1st quarter worth approximately $33,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position 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 worth $36,000 after purchasing an additional 498 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. KeyCorp boosted their price objective on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Morgan Stanley boosted their price objective 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. Barclays boosted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, JMP Securities boosted their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.06.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $124.13, for a total value of $727,898.32. Following the completion of the sale, the chief technology officer directly owned 17,816 shares of the company's stock, valued at $2,211,500.08. This represents a 24.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,462 shares of company stock worth $581,726,917 over the last ninety days. Insiders own 19.95% of the company's stock.

Robinhood Markets Stock Performance

HOOD stock opened at $121.78 on Monday. The stock's 50 day simple moving average is $110.49 and its 200 day simple moving average is $79.34. Robinhood Markets, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $130.07. The company has a market cap of $108.22 billion, a P/E ratio of 61.82, a price-to-earnings-growth ratio of 4.34 and a beta of 2.36.

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 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 the consensus estimate of $893.93 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The business's revenue was up 45.0% on a year-over-year basis. Equities analysts predict 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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