NTV Asset Management LLC Invests $5.29 Million in Robinhood Markets, Inc. $HOOD

Key Points

• NTV Asset Management LLC has invested approximately $5.29 million in Robinhood Markets, acquiring 56,507 shares as part of their second-quarter filings with the SEC.
• Insider activity is notable, with CEO Vladimir Tenev selling 750,000 shares for over $104 million, as insiders sold a total of 5.65 million shares valued at around $614 million in the past three months.
• Analysts have mixed sentiments on Robinhood, with target price estimates ranging from $48 to $145, yet the majority rate the stock as a "Moderate Buy."

NTV Asset Management LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 56,507 shares of the company's stock, valued at approximately $5,291,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. 111 Capital purchased a new stake in shares of Robinhood Markets during the second quarter worth about $642,000. QRG Capital Management Inc. grew its holdings in Robinhood Markets by 113.4% in the second quarter. QRG Capital Management Inc. now owns 287,230 shares of the company's stock valued at $26,893,000 after purchasing an additional 152,654 shares during the period. Fortis Capital Advisors LLC purchased a new stake in Robinhood Markets in the second quarter valued at approximately $1,525,000. Ascent Group LLC purchased a new stake in Robinhood Markets in the second quarter valued at approximately $343,000. Finally, Clarity Capital Partners LLC purchased a new stake in Robinhood Markets in the second quarter valued at approximately $217,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were 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, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. In the last three months, insiders sold 5,656,462 shares of company stock valued at $614,224,917. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Trading Up 2.0%

NASDAQ HOOD opened at $148.67 on Friday. The company's fifty day simple moving average is $114.45 and its 200-day simple moving average is $82.33. Robinhood Markets, Inc. has a 52 week low of $22.61 and a 52 week high of $150.21. The stock has a market cap of $132.12 billion, a P/E ratio of 75.47, a PEG ratio of 4.05 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $893.93 million. During the same period in the previous year, the company posted $0.21 earnings per share. The business's revenue for the quarter was up 45.0% compared to the same quarter last year. On average, research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on HOOD. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday. Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. 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 report on Thursday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of Robinhood Markets in a report on Saturday, September 27th. Finally, Citigroup lifted their price target 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. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $113.59.

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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