RFG Holdings Inc. Raises Position in Robinhood Markets, Inc. $HOOD

Key Points

• RFG Holdings Inc. increased its stake in Robinhood Markets by 175% during Q2, owning 21,605 shares valued at approximately $2.02 million, making it the company's 23rd largest position.
• Robinhood's CEO, Vladimir Tenev, sold 750,000 shares worth nearly $70 million on July 1, while insiders collectively sold over 5.77 million shares valued at more than $589 million in the past three months.
• Analysts' price targets for Robinhood stock vary significantly, with estimates ranging from $48 to $145, and a consensus rating of "Moderate Buy" based on the current performance and projections.

RFG Holdings Inc. raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 175.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,605 shares of the company's stock after buying an additional 13,749 shares during the period. Robinhood Markets makes up 0.6% of RFG Holdings Inc.'s portfolio, making the stock its 23rd biggest position. RFG Holdings Inc.'s holdings in Robinhood Markets were worth $2,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP lifted its stake in Robinhood Markets by 64.5% in the fourth quarter. Quantinno Capital Management LP now owns 62,293 shares of the company's stock valued at $2,321,000 after acquiring an additional 24,426 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $201,000. Toronto Dominion Bank grew its stake in shares of Robinhood Markets by 156.4% during the 4th quarter. Toronto Dominion Bank now owns 175,408 shares of the company's stock worth $6,536,000 after acquiring an additional 107,000 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Robinhood Markets by 9.9% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 310,759 shares of the company's stock valued at $11,579,000 after buying an additional 27,921 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Robinhood Markets by 25.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,727,467 shares of the company's stock worth $101,625,000 after buying an additional 548,798 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

NASDAQ:HOOD traded up $3.87 during midday trading on Friday, reaching $124.78. 202,254,907 shares of the stock traded hands, compared to its average volume of 37,834,256. The company has a fifty day moving average of $108.40 and a 200 day moving average of $76.11. The stock has a market capitalization of $110.89 billion, a P/E ratio of 63.34, a PEG ratio of 4.62 and a beta of 2.36. Robinhood Markets, Inc. has a 12 month low of $22.05 and a 12 month high of $125.18.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same quarter last year, the business posted $0.21 earnings per share. The company's revenue for the quarter was up 45.0% compared to the same quarter last year. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JMP Securities upped their price target on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods upped their price objective on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Compass Point boosted their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Barclays boosted their target price on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley upped their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $101.88.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total transaction of $49,957,923.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,767,855 shares of company stock worth $588,837,174. 14.47% of the stock is currently owned by company insiders.

About Robinhood Markets

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.