Redhawk Wealth Advisors Inc. Acquires New Position in Robinhood Markets, Inc. $HOOD

Key Points

• Redhawk Wealth Advisors Inc. has acquired 4,205 shares of Robinhood Markets, Inc., valued at approximately $394,000, indicating continued institutional interest in the stock.
• Major institutional investors such as Vanguard Group Inc. and AGF Management Ltd. have significantly increased their stakes in Robinhood, reflecting investor confidence in the company's growth potential.
• Analysts have raised their price targets for Robinhood, with Goldman Sachs estimating a target of $104.00 and Mizuho projecting $145.00, contributing to a consensus rating of "Moderate Buy."

Redhawk Wealth Advisors Inc. bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,205 shares of the company's stock, valued at approximately $394,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares in the last quarter. AGF Management Ltd. raised its position in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Robinhood Markets by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after buying an additional 131,620 shares in the last quarter. Northern Trust Corp raised its position in shares of Robinhood Markets by 4.2% in the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock valued at $169,035,000 after buying an additional 163,823 shares in the last quarter. Finally, Wealthquest Corp acquired a new position in Robinhood Markets during the 1st quarter worth approximately $156,193,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 3.2%

Shares of NASDAQ HOOD traded up $3.87 during midday trading on Friday, hitting $124.78. The company's stock had a trading volume of 202,254,907 shares, compared to its average volume of 37,834,256. The stock has a fifty day moving average price of $108.40 and a 200 day moving average price of $76.11. Robinhood Markets, Inc. has a one year low of $22.05 and a one year high of $125.18. The firm has a market capitalization of $110.89 billion, a price-to-earnings ratio of 63.34, a P/E/G ratio of 4.62 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $893.93 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business's revenue for the quarter was up 45.0% compared to the same quarter last year. On average, 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

HOOD has been the subject of several research reports. Barclays increased their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Redburn Atlantic reissued a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Piper Sandler assumed coverage on shares of Robinhood Markets in a research report on Wednesday, September 10th. They issued an "overweight" rating and a $120.00 price target for the company. Finally, Mizuho upped their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.88.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total value of $2,523,000.00. Following the completion of the transaction, the insider owned 610,949 shares of the company's stock, valued at $61,656,973.08. The trade was a 3.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the sale, the director directly owned 3,976,234 shares of the company's stock, valued at $413,011,425.58. This trade represents a 21.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,767,855 shares of company stock worth $588,837,174 in the last ninety days. Insiders own 14.47% of the company's stock.

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.