M & L Capital Management Ltd Invests $12.13 Million in Robinhood Markets, Inc. $HOOD

Key Points

• M & L Capital Management Ltd has invested approximately $12.13 million in Robinhood Markets, acquiring 129,500 shares, making it the 7th largest position in their portfolio.
• 93.27% of Robinhood's stock is currently owned by institutional investors and hedge funds, with several firms recently increasing their holdings significantly.
• The stock had a 12-month trading range of $21.50 to $123.44 and currently has a market capitalization of $102.22 billion, following recent earnings that exceeded analyst expectations.

M & L Capital Management Ltd bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 129,500 shares of the company's stock, valued at approximately $12,125,000. Robinhood Markets accounts for about 2.7% of M & L Capital Management Ltd's investment portfolio, making the stock its 7th biggest position.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. Two Sigma Advisers LP raised its position in Robinhood Markets by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after buying an additional 52,700 shares during the last quarter. AGF Management Ltd. raised its position in Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Robinhood Markets by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after buying an additional 131,620 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Robinhood Markets by 4.2% during the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock valued at $169,035,000 after purchasing an additional 163,823 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction 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 owned 610,949 shares in the company, valued at approximately $61,656,973.08. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $99.83, for a total value of $585,502.95. Following the completion of the sale, the chief technology officer owned 23,680 shares in the company, valued at $2,363,974.40. This trade represents a 19.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,773,719 shares of company stock valued at $589,293,510 in the last ninety days. 14.47% of the stock is owned by insiders.

Robinhood Markets Trading Down 2.3%

HOOD stock opened at $115.03 on Friday. The firm has a 50 day moving average of $105.99 and a 200-day moving average of $73.63. The firm has a market capitalization of $102.22 billion, a P/E ratio of 58.39, a price-to-earnings-growth ratio of 4.32 and a beta of 2.36. Robinhood Markets, Inc. has a 12 month low of $21.50 and a 12 month high of $123.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its 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 business had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HOOD shares. Citigroup raised their target price on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Barclays raised their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Compass Point increased their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Redburn Atlantic reiterated a "sell" rating and set a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Finally, Needham & Company LLC increased their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.88.

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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