Kingstone Capital Partners Texas LLC Makes New Investment in Robinhood Markets, Inc. $HOOD

Key Points

• Kingstone Capital Partners Texas LLC acquired a new stake in Robinhood Markets, purchasing 10,162,120 shares valued at approximately $951 million, representing 1.15% ownership of the company.
• Several hedge funds have recently bought shares in Robinhood, with 93.27% of the stock currently owned by institutional investors.
• Robinhood Markets reported a quarterly earnings increase, with a revenue of $989 million, up 45% year-over-year, exceeding analysts' expectations.

Kingstone Capital Partners Texas LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,162,120 shares of the company's stock, valued at approximately $951,479,000. Kingstone Capital Partners Texas LLC owned about 1.15% of Robinhood Markets at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the period. AGF Management Ltd. lifted its position in Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock worth $201,913,000 after purchasing an additional 131,620 shares during the period. Northern Trust Corp grew its stake in shares of Robinhood Markets by 4.2% in the first quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock worth $169,035,000 after acquiring an additional 163,823 shares during the last quarter. Finally, Wealthquest Corp bought a new position in Robinhood Markets in the first quarter valued at about $156,193,000. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Performance

NASDAQ HOOD traded down $0.65 during trading on Monday, hitting $124.13. 19,406,092 shares of the company's stock traded hands, compared to its average volume of 42,356,813. Robinhood Markets, Inc. has a 12-month low of $22.05 and a 12-month high of $125.18. The stock has a market capitalization of $110.31 billion, a price-to-earnings ratio of 62.95, a PEG ratio of 4.62 and a beta of 2.36. The business has a 50 day moving average of $108.40 and a 200-day moving average of $76.32.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter last year, the firm posted $0.21 earnings per share. The company's revenue for the quarter was up 45.0% on a year-over-year basis. On average, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOOD. Cantor Fitzgerald lifted their target price on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Compass Point upped their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. JMP Securities increased their price objective on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Barclays raised their price target 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, Morgan Stanley lifted their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.88.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total value of $2,523,000.00. Following the sale, the insider directly owned 610,949 shares of the company's stock, valued at $61,656,973.08. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Meyer Malka sold 1,093,288 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares of the company's stock, valued at $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. Insiders sold 5,767,855 shares of company stock valued at $588,837,174 over the last 90 days. Company insiders own 19.95% of the company's stock.

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.