Quantum Financial Advisors LLC Invests $353,000 in Robinhood Markets, Inc. $HOOD

Key Points

• Quantum Financial Advisors LLC has invested approximately $353,000 in 3,771 shares of Robinhood Markets, Inc. during the second quarter.
• Robinhood's stock has received multiple upgrades from analysts, with price targets raised significantly, including an increase from $60.00 to $110.00 by KeyCorp and from $70.00 to $85.00 by Deutsche Bank.
• Insider trading activity includes significant sales, such as CTO Jeffrey Tsvi Pinner selling 5,865 shares for nearly $585,503, indicating a 19.85% reduction in his position.

Quantum Financial Advisors LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,771 shares of the company's stock, valued at approximately $353,000.

A number of other large investors have also modified their holdings of the business. Cigna Investments Inc. New grew its holdings in shares of Robinhood Markets by 2.7% during the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after buying an additional 174 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after buying an additional 265 shares in the last quarter. Allworth Financial LP boosted its position in shares of Robinhood Markets by 23.4% during the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company's stock valued at $58,000 after acquiring an additional 266 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in shares of Robinhood Markets by 0.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock valued at $1,520,000 after acquiring an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $99.83, for a total transaction of $585,502.95. Following the sale, the chief technology officer owned 23,680 shares of the company's stock, valued at approximately $2,363,974.40. This represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the company'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 directly owned 94,454 shares in the company, valued at $9,531,353.14. This represents a 38.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,767,855 shares of company stock valued at $588,837,174. 19.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

HOOD has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. KeyCorp lifted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Compass Point upped their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. The Goldman Sachs Group lifted their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.88.

Robinhood Markets Trading Up 0.1%

NASDAQ HOOD traded up $0.11 during trading hours on Monday, reaching $124.89. The company had a trading volume of 33,421,887 shares, compared to its average volume of 42,438,043. The stock has a 50-day moving average of $108.40 and a 200 day moving average of $76.32. Robinhood Markets, Inc. has a 1-year low of $22.05 and a 1-year high of $126.64. The stock has a market capitalization of $110.99 billion, a P/E ratio of 63.40, a price-to-earnings-growth ratio of 4.62 and a beta of 2.36.

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, beating analysts' consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.