GFG Capital LLC Makes New $10.22 Million Investment in Robinhood Markets, Inc. $HOOD

GFG Capital LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 109,167 shares of the company's stock, valued at approximately $10,221,000. Robinhood Markets makes up approximately 3.0% of GFG Capital LLC's portfolio, making the stock its 8th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at $36,000. REAP Financial Group LLC increased its stake in shares of Robinhood Markets by 44.1% in the second quarter. REAP Financial Group LLC now owns 523 shares of the company's stock valued at $49,000 after buying an additional 160 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Robinhood Markets in the second quarter valued at $56,000. Hemington Wealth Management increased 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 valued at $26,000 after buying an additional 218 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at $30,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

HOOD opened at $150.87 on Thursday. The company has a market cap of $134.07 billion, a price-to-earnings ratio of 76.58, a price-to-earnings-growth ratio of 4.03 and a beta of 2.42. The firm has a 50 day simple moving average of $116.93 and a 200 day simple moving average of $84.46. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its 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 firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same quarter last year, the business earned $0.21 earnings per share. The company's revenue was up 45.0% compared to the same quarter last year. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,462 shares of company stock worth $618,250,191 in the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HOOD. Cantor Fitzgerald raised their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of Robinhood Markets in a research note on Wednesday. KeyCorp raised their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays lifted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC boosted their price objective on Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $113.59.

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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