3,102 Shares in Robinhood Markets, Inc. $HOOD Purchased by Lake Hills Wealth Management LLC

Key Points

• Lake Hills Wealth Management LLC has acquired a new position in Robinhood Markets, purchasing 3,102 shares valued at approximately $290,000 in the second quarter.
• Significant insider trades were reported, with Director Meyer Malka selling over 1 million shares for approximately $113.56 million, reducing his stake by 21.57%.
• Analysts have mixed opinions on Robinhood’s stock, with Barclays raising its price target to $120 while Redburn Atlantic maintains a sell rating and a price objective of $48.

Lake Hills Wealth Management LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,102 shares of the company's stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HOOD. Whipplewood Advisors LLC increased its holdings in Robinhood Markets by 564.4% in the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after buying an additional 508 shares in the last quarter. Hemington Wealth Management grew its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $30,000. Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets in the first quarter valued at about $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $3.87 during trading hours on Friday, reaching $124.78. The stock had a trading volume of 202,254,907 shares, compared to its average volume of 37,834,256. Robinhood Markets, Inc. has a 1 year low of $22.05 and a 1 year high of $125.18. The firm's 50 day moving average is $108.40 and its 200-day moving average is $75.91. The stock has a market capitalization of $110.89 billion, a price-to-earnings ratio of 63.34, a P/E/G ratio of 4.48 and a beta of 2.36.

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

Analyst Ratings Changes

A number of research firms recently weighed in on HOOD. KeyCorp boosted 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. Piper Sandler began coverage on shares of Robinhood Markets in a research report on Wednesday, September 10th. They set an "overweight" rating and a $120.00 price target on the stock. Barclays boosted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Compass Point boosted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Eleven 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $101.88.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the sale, the insider directly owned 591,887 shares in the company, valued at approximately $59,170,943.39. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,767,855 shares of company stock worth $588,837,174 in the last three months. Company insiders own 14.47% 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.