Northern Right Capital Management L.P. Invests $5.30 Million in Robinhood Markets, Inc. $HOOD

Key Points

• Northern Right Capital Management L.P. acquired 127,247 shares of Robinhood Markets, Inc., valued at approximately $5,296,000, making it the firm's 16th largest investment.
• Several brokerages have recently upgraded their target prices for Robinhood Markets, with Goldman Sachs increasing their target from $91.00 to $104.00, while Citigroup raised theirs from $100.00 to $120.00.
• Robinhood reported a net margin of 50.13% in its latest earnings report, beating expectations with $989.00 million in revenue, a 45.0% year-over-year increase.

Northern Right Capital Management L.P. acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 127,247 shares of the company's stock, valued at approximately $5,296,000. Robinhood Markets makes up about 2.2% of Northern Right Capital Management L.P.'s investment portfolio, making the stock its 16th biggest position.

A number of other institutional investors have also made changes to their positions in the business. MetLife Investment Management LLC lifted its position in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares in the last quarter. Hemington Wealth Management lifted 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 worth $26,000 after purchasing an additional 218 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after purchasing an additional 265 shares in the last quarter. Allworth Financial LP lifted its position in shares of Robinhood Markets by 23.4% in the first quarter. Allworth Financial LP now owns 1,401 shares of the company's stock worth $58,000 after purchasing an additional 266 shares in the last quarter. Finally, HighPoint Advisor Group LLC lifted its position in shares of Robinhood Markets by 0.8% in the first quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after purchasing an additional 272 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Down 0.0%

HOOD traded down $0.02 during trading on Wednesday, reaching $100.82. The stock had a trading volume of 23,758,326 shares, compared to its average volume of 41,270,875. The stock's 50 day moving average is $102.62 and its two-hundred day moving average is $70.48. The company has a market capitalization of $89.60 billion, a price-to-earnings ratio of 51.18, a P/E/G ratio of 3.81 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70.

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 (EPS) for the quarter, topping 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 business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $104.23, for a total value of $2,605,750.00. Following the sale, the insider directly owned 566,887 shares of the company's stock, valued at approximately $59,086,632.01. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the sale, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,688,606 shares of company stock valued at $561,670,429. 19.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on HOOD shares. Morgan Stanley increased their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. JMP Securities upped their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. KeyCorp upped their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Redburn Atlantic restated a "sell" rating and issued a $48.00 price target (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Finally, Needham & Company LLC upped their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Robinhood Markets Company 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.