Jump Financial LLC Has $503,000 Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Jump Financial LLC significantly reduced its holdings in Robinhood Markets, Inc. by 97.8%, ending the quarter with only 12,095 shares worth $503,000.
• Institutional investors, including Vanguard Group Inc. and AGF Management Ltd., have increased their stakes in Robinhood, with Vanguard acquiring an additional 5,874,701 shares, raising its total to over $3 billion.
• Recent analyst ratings show a positive trend for Robinhood, with several firms raising their price targets significantly, resulting in a consensus rating of "Moderate Buy" and an average target price of $100.31.

Jump Financial LLC lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 97.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,095 shares of the company's stock after selling 525,628 shares during the period. Jump Financial LLC's holdings in Robinhood Markets were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HOOD. Vanguard Group Inc. raised its holdings in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. AGF Management Ltd. raised its holdings in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. Wealthquest Corp acquired a new stake in shares of Robinhood Markets in the 1st quarter worth about $156,193,000. Southpoint Capital Advisors LP purchased a new stake in Robinhood Markets in the 4th quarter valued at about $130,410,000. Finally, Polar Capital Holdings Plc purchased a new stake in Robinhood Markets in the 4th quarter valued at about $125,252,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on HOOD. Mizuho increased their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Needham & Company LLC increased their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Compass Point increased their price objective 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. Morgan Stanley increased their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Eleven 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. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 40,131 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $104.71, for a total value of $4,202,117.01. Following the completion of the transaction, the insider directly owned 120,408 shares of the company's stock, valued at approximately $12,607,921.68. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $104.73, for a total transaction of $614,136.72. Following the completion of the transaction, the chief technology officer directly owned 3,044 shares of the company's stock, valued at approximately $318,798.12. This trade represents a 65.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,688,606 shares of company stock worth $561,670,429 over the last 90 days. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Stock Up 0.3%

Shares of HOOD stock opened at $104.03 on Tuesday. The company has a 50 day moving average of $102.25 and a 200-day moving average of $70.27. Robinhood Markets, Inc. has a 12-month low of $18.71 and a 12-month high of $117.70. The firm has a market cap of $92.45 billion, a P/E ratio of 52.81, a PEG ratio of 3.81 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) 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 company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter last year, the business posted $0.21 EPS. Robinhood Markets's quarterly revenue was up 45.0% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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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