JAT Capital Mgmt LP Invests $2.70 Million in Robinhood Markets, Inc. $HOOD

Key Points

• JAT Capital Mgmt LP has invested approximately $2.70 million in Robinhood Markets, acquiring about 64,971 shares, which constitutes 1% of its portfolio.
• Insider trading was notable with Daniel Martin Gallagher, Jr. and Meyer Malka selling a total of over $135 million worth of shares, resulting in significant decreases in their ownership.
• Several financial analysts have upgraded Robinhood's stock ratings and price targets, with a consensus rating of "Moderate Buy" and an average target price of $100.31.

JAT Capital Mgmt LP acquired a new stake 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 firm acquired 64,971 shares of the company's stock, valued at approximately $2,704,000. Robinhood Markets comprises approximately 1.0% of JAT Capital Mgmt LP's portfolio, making the stock its 12th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of HOOD. HighTower Advisors LLC boosted its position in Robinhood Markets by 6.4% during the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after acquiring an additional 3,032 shares during the last quarter. TD Private Client Wealth LLC grew its position 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 valued at $76,000 after purchasing an additional 1,186 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Robinhood Markets by 125.9% in 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 during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Robinhood Markets during the first quarter worth about $277,000. Finally, Burns Matteson Capital Management LLC acquired a new stake in Robinhood Markets in the 1st quarter worth about $495,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the sale, the insider owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the firm's stock in a transaction on 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 directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,688,606 shares of company stock valued at $561,670,429. Insiders own 19.95% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HOOD shares. The Goldman Sachs Group raised their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Citigroup upped their price objective on Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Mizuho raised their price objective on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Barclays increased their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Eleven equities research 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, Robinhood Markets has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Stock Up 0.3%

Shares of NASDAQ:HOOD opened at $104.03 on Tuesday. The company has a market capitalization of $92.45 billion, a price-to-earnings ratio of 52.81, a price-to-earnings-growth ratio of 3.81 and a beta of 2.36. The company has a 50 day moving average of $102.25 and a two-hundred day moving average of $70.27. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $893.93 million. During the same period last year, the business earned $0.21 EPS. The business's revenue was up 45.0% on a year-over-year basis. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.

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