Perigon Wealth Management LLC Boosts Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• Perigon Wealth Management LLC increased its stake in Robinhood Markets, Inc. by 44.0%, owning 8,062 shares valued at approximately $755,000.
• Insider Daniel Martin Gallagher, Jr. sold 25,000 shares, resulting in a 3.93% decrease in his ownership, while another insider, Steven M. Quirk, decreased his position by 38.89% after selling 60,113 shares.
• Robinhood's stock has recently attracted attention with an average target price of $104.06, as various analysts have issued reports with ratings ranging from buy to sell.

Perigon Wealth Management LLC raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 44.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,062 shares of the company's stock after acquiring an additional 2,463 shares during the period. Perigon Wealth Management LLC's holdings in Robinhood Markets were worth $755,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth approximately $951,479,000. AGF Management Ltd. raised its stake in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Robinhood Markets by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock worth $201,913,000 after buying an additional 131,620 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Robinhood Markets by 4.2% during the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock worth $169,035,000 after buying an additional 163,823 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the sale, the insider owned 610,949 shares in the company, valued at $61,656,973.08. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Quirk sold 60,113 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider owned 94,454 shares in the company, valued at $9,531,353.14. This trade represents a 38.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681,462 shares of company stock worth $581,726,917 in the last quarter. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $121.78 on Monday. The business's fifty day moving average price is $110.49 and its two-hundred day moving average price is $79.34. The stock has a market cap of $108.22 billion, a PE ratio of 61.82, a price-to-earnings-growth ratio of 4.34 and a beta of 2.36. Robinhood Markets, Inc. has a one year low of $22.05 and a one year high of $130.07.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.Robinhood Markets's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Redburn Atlantic reissued a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Cantor Fitzgerald upped their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Needham & Company LLC upped their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Piper Sandler restated an "overweight" rating and issued a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $104.06.

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.

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