Moran Wealth Management LLC Purchases Shares of 3,967 Robinhood Markets, Inc. $HOOD

Key Points

• Moran Wealth Management LLC acquired 3,967 shares of Robinhood Markets, Inc., valued at approximately $371,000, during the second quarter.
• Robinhood reported $0.42 EPS for the quarter, surpassing analysts' estimates, with revenues rising 45.0% year-over-year to $989 million.
• Several analysts have raised their price targets for Robinhood, with Bank of America setting its target at $157.00 and maintaining a "buy" rating.

Moran Wealth Management LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,967 shares of the company's stock, valued at approximately $371,000.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Robinhood Markets during the second quarter valued at about $36,000. REAP Financial Group LLC increased its holdings in shares of Robinhood Markets by 44.1% in the second quarter. REAP Financial Group LLC now owns 523 shares of the company's stock worth $49,000 after buying an additional 160 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Robinhood Markets in the second quarter worth about $56,000. Hemington Wealth Management increased its holdings in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets in the first quarter worth about $30,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $131.44 on Friday. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The company has a market cap of $116.81 billion, a PE ratio of 66.72, a P/E/G ratio of 3.54 and a beta of 2.42. The stock's 50-day moving average is $120.95 and its 200 day moving average is $88.35.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly 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. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the previous year, the business earned $0.21 EPS. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HOOD. Barclays lifted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Morgan Stanley lifted their price objective on Robinhood Markets from $110.00 to $146.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. KeyCorp lifted their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Bank of America lifted their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. 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. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus price target of $118.94.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the sale, the insider directly owned 565,949 shares in the company, valued at approximately $83,952,874.66. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,181,462 shares of company stock worth $567,328,871. 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.

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