M1 Capital Management LLC Purchases Shares of 2,523 Robinhood Markets, Inc. $HOOD

Key Points

• M1 Capital Management LLC acquired 2,523 shares of Robinhood Markets, valued at approximately $236,000, during the second quarter.
• Insider activity revealed that Director Baiju Bhatt sold 418,338 shares for nearly $50 million, indicating significant executive movement in the company's stock.
• Several analysts have raised their price targets for Robinhood Markets, with Citigroup's target increasing from $120 to $135 and Bank of America raising theirs from $139 to $157.

M1 Capital Management LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,523 shares of the company's stock, valued at approximately $236,000.

Several other large investors have also added to or reduced their stakes in HOOD. Hemington Wealth Management raised its position in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after buying an additional 218 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $30,000. Pandora Wealth Inc. bought a new stake in shares of Robinhood Markets during the first quarter valued at approximately $33,000. V Square Quantitative Management LLC bought a new stake in shares of Robinhood Markets during the second quarter valued at approximately $36,000. Finally, Colonial Trust Advisors raised its position in shares of Robinhood Markets by 125.0% during the first quarter. Colonial Trust Advisors now owns 900 shares of the company's stock valued at $37,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Activity

In other news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $147.53, for a total transaction of $865,115.92. Following the sale, the chief technology officer directly owned 11,952 shares of the company's stock, valued at $1,763,278.56. This represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,681,122 shares of company stock valued at $618,215,681. Insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HOOD shares. Citigroup lifted 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. JMP Securities boosted 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. Bank of America boosted their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. 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 report on Friday, June 27th. Finally, Morgan Stanley boosted their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 1st. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Robinhood Markets Stock Up 1.1%

HOOD stock opened at $152.46 on Friday. The stock has a market capitalization of $135.49 billion, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 4.19 and a beta of 2.42. Robinhood Markets, Inc. has a twelve month low of $23.00 and a twelve month high of $153.86. The firm's fifty day simple moving average is $117.92 and its two-hundred day simple moving average is $85.18.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.