QRG Capital Management Inc. Purchases 152,654 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• QRG Capital Management Inc. increased its ownership in Robinhood Markets by 113.4% in the second quarter, now holding 287,230 shares valued at approximately $26.9 million.
• Several institutional investors have also significantly increased their stakes in Robinhood, with a reported 93.27% of the stock owned by these investors.
• Insider selling activities included a notable 225,000 shares sold by insider Daniel Martin Gallagher, Jr. and 1.57 million shares sold by Director Baiju Bhatt, collectively exceeding $179 million in transactions.

QRG Capital Management Inc. boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 113.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 287,230 shares of the company's stock after purchasing an additional 152,654 shares during the quarter. QRG Capital Management Inc.'s holdings in Robinhood Markets were worth $26,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Robinhood Markets in the 4th quarter valued at about $588,000. GAMMA Investing LLC increased its stake in shares of Robinhood Markets by 5,733.0% in the 1st quarter. GAMMA Investing LLC now owns 341,700 shares of the company's stock valued at $14,222,000 after acquiring an additional 335,842 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Robinhood Markets by 19.1% in the 1st quarter. Parallel Advisors LLC now owns 3,798 shares of the company's stock valued at $158,000 after acquiring an additional 609 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Robinhood Markets by 155,600.0% in the 1st quarter. NBC Securities Inc. now owns 1,557 shares of the company's stock valued at $64,000 after acquiring an additional 1,556 shares during the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Robinhood Markets by 31.7% in the 1st quarter. Merit Financial Group LLC now owns 23,625 shares of the company's stock valued at $983,000 after acquiring an additional 5,686 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HOOD shares. Redburn Atlantic reaffirmed 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. Mizuho upped their price target on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Keefe, Bruyette & Woods upped their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Compass Point upped their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Bank of America boosted their price objective on Robinhood Markets from $139.00 to $157.00 and gave the company a "buy" rating in a research report on Thursday. Twelve investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $113.59.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider directly owned 591,887 shares of the company's stock, valued at $59,170,943.39. This trade represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction that occurred 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. Insiders sold 5,656,462 shares of company stock valued at $614,224,917 over the last quarter. Insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

Shares of HOOD opened at $148.67 on Friday. The stock has a 50 day simple moving average of $114.45 and a 200 day simple moving average of $82.33. Robinhood Markets, Inc. has a 52-week low of $22.61 and a 52-week high of $150.21. The firm has a market capitalization of $132.12 billion, a PE ratio of 75.47, a P/E/G ratio of 4.05 and a beta of 2.42.

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