Reyes Financial Architecture Inc. Boosts Position in Robinhood Markets, Inc. $HOOD

Key Points

• Reyes Financial Architecture Inc. boosted its stake in Robinhood Markets by 546.6% in the 2nd quarter, acquiring an additional 2,219 shares and bringing its total holdings to 2,625 shares worth $246,000.
• Insider sales included Daniel Martin Gallagher, Jr., who sold 25,000 shares for approximately $2.52 million, reducing their stake by 3.93%.
• Analysts have raised their price targets for Robinhood, with Cantor Fitzgerald increasing it from $100.00 to $118.00 while maintaining an "overweight" rating.

Reyes Financial Architecture Inc. raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 546.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,625 shares of the company's stock after buying an additional 2,219 shares during the quarter. Reyes Financial Architecture Inc.'s holdings in Robinhood Markets were worth $246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC grew its stake in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares in the last quarter. Hemington Wealth Management boosted its holdings in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at $30,000. Pandora Wealth Inc. bought a new position in shares of Robinhood Markets in the first quarter worth $33,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after buying an additional 498 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Trading Up 2.2%

Shares of NASDAQ:HOOD traded up $2.55 on Tuesday, reaching $117.38. 36,566,786 shares of the company traded hands, compared to its average volume of 39,525,248. The stock has a market capitalization of $104.31 billion, a P/E ratio of 59.58, a price-to-earnings-growth ratio of 4.24 and a beta of 2.36. The business's 50-day simple moving average is $106.94 and its 200 day simple moving average is $74.56. Robinhood Markets, Inc. has a 52 week low of $22.05 and a 52 week high of $123.44.

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

Analyst Ratings Changes

Several research firms have weighed in on HOOD. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. JMP Securities upped their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Piper Sandler assumed coverage on shares of Robinhood Markets in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $120.00 target price on the stock. Barclays boosted their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Redburn Atlantic reissued a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Eleven investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $101.88.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm'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 sale, the insider 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 at the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,773,719 shares of company stock valued at $589,293,510. 19.95% of the stock is currently owned by insiders.

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.