Koss Olinger Consulting LLC Invests $416,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Koss Olinger Consulting LLC invested approximately $416,000 in Robinhood Markets, purchasing 10,000 shares during the first quarter.
• Insider Daniel Martin Gallagher, Jr. sold 25,000 shares at an average price of $104.23, reducing his position by 4.22%, while other executives have also sold substantial amounts.
• Analysts have raised their price targets for Robinhood Markets, with Barclays setting a target of $120.00, reflecting growing investor optimism despite previous earnings reports.

Koss Olinger Consulting LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the company's stock, valued at approximately $416,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC raised its stake in 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 buying an additional 1,186 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter valued at $277,000. Burns Matteson Capital Management LLC acquired a new stake in shares of Robinhood Markets during the 1st quarter valued at $495,000. Fiduciary Alliance LLC acquired a new position in Robinhood Markets during the 1st quarter worth about $2,177,000. Finally, Invesco Ltd. raised its holdings in Robinhood Markets by 132.6% during the 4th quarter. Invesco Ltd. now owns 2,867,595 shares of the company's stock worth $106,847,000 after purchasing an additional 1,634,599 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded up $0.47 on Tuesday, hitting $114.09. The company had a trading volume of 31,418,771 shares, compared to its average volume of 41,767,250. The stock has a market capitalization of $101.39 billion, a price-to-earnings ratio of 57.91, a P/E/G ratio of 4.37 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $18.36 and a 1 year high of $117.70. The stock has a 50 day moving average of $92.24 and a 200-day moving average of $64.62.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 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 the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The company's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the sale, the insider directly owned 591,887 shares in the company, valued at $59,170,943.39. The trade was a 27.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 4,644,685 shares of company stock valued at $430,085,957. Insiders own 19.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HOOD. Citigroup boosted their price objective on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Mizuho boosted their price objective on Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group boosted their price objective on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Finally, Barclays upped their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.29.

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.