Phoenix Financial Ltd. Acquires Shares of 2,382 Robinhood Markets, Inc. $HOOD

Phoenix Financial Ltd. acquired 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 filing with the Securities & Exchange Commission. The firm acquired 2,382 shares of the company's stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. WESPAC Advisors SoCal LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth approximately $1,713,000. DekaBank Deutsche Girozentrale increased its stake in shares of Robinhood Markets by 0.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 23,560 shares of the company's stock worth $2,008,000 after buying an additional 175 shares during the last quarter. Fiduciary Planning LLC increased its stake in shares of Robinhood Markets by 2.1% in the second quarter. Fiduciary Planning LLC now owns 9,393 shares of the company's stock worth $879,000 after buying an additional 193 shares during the last quarter. Balboa Wealth Partners increased its position in shares of Robinhood Markets by 5.9% in the 2nd quarter. Balboa Wealth Partners now owns 10,165 shares of the company's stock worth $952,000 after purchasing an additional 564 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter worth about $371,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HOOD. Compass Point boosted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Bank of America boosted their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Morgan Stanley boosted their price target on Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. Finally, Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Twelve research 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 MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Insiders Place Their Bets

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares in the company, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,175,598 shares of company stock worth $579,779,430. 14.47% of the stock is owned by company insiders.

Robinhood Markets Price Performance

Shares of HOOD opened at $134.33 on Friday. The company has a market cap of $119.38 billion, a P/E ratio of 68.19, a PEG ratio of 3.30 and a beta of 2.42. The stock has a fifty day moving average price of $122.90 and a 200 day moving average price of $91.56. Robinhood Markets, Inc. has a 12 month low of $23.00 and a 12 month high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS 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 analyst estimates of $893.93 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The company's quarterly revenue was up 45.0% on a year-over-year basis. As a group, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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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