R Squared Ltd Invests $391,000 in Robinhood Markets, Inc. $HOOD

Key Points

• R Squared Ltd invested approximately $391,000 in Robinhood Markets, purchasing 4,180 shares in the second quarter.
• Insider selling included Daniel Martin Gallagher, Jr., who sold 225,000 shares for over $22 million, representing a significant decrease in his ownership.
• Analysts have raised price targets for Robinhood, with Citigroup increasing theirs from $120 to $135 and twelve analysts rating the stock as a Buy.

R Squared Ltd purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,180 shares of the company's stock, valued at approximately $391,000.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Robinhood Markets during the 2nd quarter valued at $36,000. LGT Financial Advisors LLC bought a new stake in Robinhood Markets during the 2nd quarter valued at $37,000. REAP Financial Group LLC raised its holdings in Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company's stock valued at $49,000 after acquiring an additional 160 shares during the period. Ameritas Advisory Services LLC bought a new stake in Robinhood Markets during the 2nd quarter valued at $56,000. Finally, Hemington Wealth Management raised its holdings in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the transaction, the insider directly owned 591,887 shares in the company, valued at approximately $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction of $6,066,002.83. Following the completion of the transaction, the insider owned 94,454 shares of the company's stock, valued at $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,175,598 shares of company stock valued at $579,779,430 in the last three months. 14.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of analyst reports. Citigroup boosted their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. Barclays boosted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. 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 report on Thursday, July 31st. KeyCorp boosted 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. Finally, Bank of America upped their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $139.79 on Friday. The stock has a market cap of $124.23 billion, a P/E ratio of 70.96, a PEG ratio of 3.49 and a beta of 2.42. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The firm's fifty day moving average price is $123.41 and its 200-day moving average price is $92.29.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (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 company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share 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.

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