McGuire Investment Group LLC Makes New Investment in Robinhood Markets, Inc. $HOOD

Key Points

• McGuire Investment Group LLC made a new investment in Robinhood Markets, acquiring 3,357 shares valued at approximately $314,000.
• Robinhood reported strong quarterly earnings, with $0.42 earnings per share surpassing analysts' expectations and a revenue increase of 45.0% year-over-year.
• Insider transactions were notable, including Steven M. Quirk selling over 60,000 shares and Meyer Malka selling over 1 million shares, leading to significant decreases in their ownership percentages.

McGuire Investment Group LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,357 shares of the company's stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. Wellington Management Group LLP bought a new position in Robinhood Markets during the fourth quarter worth $588,000. MassMutual Private Wealth & Trust FSB boosted its position in Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after purchasing an additional 498 shares during the period. GAMMA Investing LLC boosted its position in Robinhood Markets by 5,733.0% during the first quarter. GAMMA Investing LLC now owns 341,700 shares of the company's stock worth $14,222,000 after purchasing an additional 335,842 shares during the period. Parallel Advisors LLC boosted its position in Robinhood Markets by 19.1% during the first quarter. Parallel Advisors LLC now owns 3,798 shares of the company's stock worth $158,000 after purchasing an additional 609 shares during the period. Finally, Rhumbline Advisers boosted its position in Robinhood Markets by 5.0% during the first quarter. Rhumbline Advisers now owns 784,187 shares of the company's stock worth $32,638,000 after purchasing an additional 37,640 shares during the period. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Down 2.8%

HOOD opened at $139.14 on Thursday. Robinhood Markets, Inc. has a twelve month low of $22.05 and a twelve month high of $143.62. The company has a 50-day simple moving average of $112.70 and a 200 day simple moving average of $80.86. The stock has a market capitalization of $123.65 billion, a price-to-earnings ratio of 70.63, a P/E/G ratio of 5.10 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. JMP Securities boosted their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. KeyCorp boosted their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. 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 research report on Friday, June 27th. Finally, Redburn Atlantic reissued a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. Eleven research 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $110.88.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 60,113 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares of the company's stock, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,906,462 shares of company stock valued at $509,427,417. Corporate insiders own 14.47% 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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