Kodai Capital Management LP Makes New $5.52 Million Investment in Robinhood Markets, Inc. $HOOD

Key Points

• Kodai Capital Management LP made a new investment in Robinhood Markets, acquiring 132,536 shares valued at approximately $5.52 million.
• Insider transactions saw significant sales, with Steven M. Quirk selling over 104,000 shares and Daniel Martin Gallagher, Jr. selling 225,000 shares, reflecting notable decreases in their shareholdings.
• Research analysts predict growth for Robinhood, with target prices raised by firms like Barclays and Keefe, Bruyette & Woods, suggesting a consensus target price of around $100.31.

Kodai Capital Management LP acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 132,536 shares of the company's stock, valued at approximately $5,516,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. MetLife Investment Management LLC boosted its position in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after buying an additional 171 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at $430,000. Kovitz Investment Group Partners LLC acquired a new position in Robinhood Markets during the 4th quarter worth about $567,000. Coldstream Capital Management Inc. purchased a new position in Robinhood Markets during the 4th quarter valued at about $228,000. Finally, The Manufacturers Life Insurance Company grew its position in Robinhood Markets by 11.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 44,296 shares of the company's stock valued at $1,650,000 after acquiring an additional 4,556 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

HOOD has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Mizuho upped their target price on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group increased their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Compass Point boosted their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, KeyCorp upped their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Stock Performance

NASDAQ HOOD traded up $0.34 during trading on Monday, reaching $104.03. 22,092,111 shares of the company's stock were exchanged, compared to its average volume of 37,341,716. The company has a 50 day moving average price of $101.69 and a two-hundred day moving average price of $70.00. The stock has a market cap of $92.45 billion, a P/E ratio of 52.81, a price-to-earnings-growth ratio of 3.81 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $18.71 and a 1 year high of $117.70.

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

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $104.23, for a total value of $2,605,750.00. Following the completion of the transaction, the insider owned 566,887 shares in the company, valued at approximately $59,086,632.01. This represents a 4.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $104.73, for a total transaction of $614,136.72. Following the completion of the sale, 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. In the last ninety days, insiders have sold 5,818,493 shares of company stock worth $570,818,204. 19.95% of the stock is owned by insiders.

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.