Koshinski Asset Management Inc. Takes Position in Robinhood Markets, Inc. $HOOD

Key Points

• Koshinski Asset Management Inc. acquired a new stake in Robinhood Markets, purchasing 6,118 shares valued at around $573,000 during the second quarter.
• A significant portion, approximately 93.27%, of Robinhood Markets' stock is owned by institutional investors and hedge funds, indicating strong market confidence.
• Robinhood's recent earnings report showed a revenue increase of 45.0% year-over-year, with earnings per share exceeding analyst expectations.

Koshinski Asset Management Inc. acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,118 shares of the company's stock, valued at approximately $573,000.

A number of other large investors have also made changes to their positions in the stock. Hartline Investment Corp acquired a new position in shares of Robinhood Markets during the second quarter valued at about $5,801,000. Stratos Wealth Partners LTD. acquired a new position in shares of Robinhood Markets during the second quarter valued at about $751,000. Private Trust Co. NA raised its position in shares of Robinhood Markets by 64.3% during the second quarter. Private Trust Co. NA now owns 7,543 shares of the company's stock valued at $706,000 after buying an additional 2,953 shares during the last quarter. Straight Path Wealth Management raised its position in shares of Robinhood Markets by 21.1% during the second quarter. Straight Path Wealth Management now owns 6,295 shares of the company's stock valued at $589,000 after buying an additional 1,095 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its position in shares of Robinhood Markets by 2.8% during the second quarter. Angeles Wealth Management LLC now owns 13,219 shares of the company's stock valued at $1,238,000 after buying an additional 354 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HOOD. Mizuho upped their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Citigroup upped their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Tuesday, September 23rd. Barclays upped their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. KeyCorp increased their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, JMP Securities increased their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 9th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $118.94.

Robinhood Markets Stock Down 1.2%

NASDAQ:HOOD opened at $129.91 on Monday. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86. The firm has a market capitalization of $115.45 billion, a PE ratio of 65.94, a price-to-earnings-growth ratio of 3.43 and a beta of 2.42. The firm has a 50-day moving average price of $121.26 and a 200 day moving average price of $89.63.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted 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. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company's quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,181,462 shares of company stock valued at $567,328,871. Insiders own 19.95% of the company's stock.

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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