Jackson Thornton Wealth Management LLC Invests $204,000 in Robinhood Markets, Inc. $HOOD

Key Points

• Jackson Thornton Wealth Management LLC invested $204,000 in Robinhood Markets, acquiring 2,237 shares of the company during the 2nd quarter.
• Robinhood reported a quarterly earnings per share (EPS) of $0.42, exceeding analysts' expectations of $0.30, with a revenue of $989 million, up 45% year-over-year.
• Multiple hedge funds have increased their stakes in Robinhood, with institutional investors now owning 93.27% of the company's stock.

Jackson Thornton Wealth Management LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,237 shares of the company's stock, valued at approximately $204,000.

Other hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC lifted its holdings in shares of Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after buying an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after buying an additional 1,186 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after buying an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Robinhood Markets by 125.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock valued at $799,000 after purchasing an additional 10,703 shares in the last quarter. Finally, Metavasi Capital LP raised its stake in Robinhood Markets by 275.0% during the first quarter. Metavasi Capital LP now owns 75,000 shares of the company's stock valued at $3,122,000 after purchasing an additional 55,000 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Down 2.9%

NASDAQ HOOD opened at $131.84 on Wednesday. The company's 50-day moving average price is $122.06 and its 200-day moving average price is $90.63. The stock has a market cap of $117.16 billion, a PE ratio of 66.92, a PEG ratio of 3.59 and a beta of 2.42. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business's revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the company'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 completion of the transaction, the director owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,181,462 shares of company stock valued at $567,328,871. Company insiders own 19.95% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HOOD shares. Mizuho upped their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Bank of America upped their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Compass Point upped their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Citigroup upped their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $118.94.

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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