Robinhood Markets, Inc. $HOOD Holdings Trimmed by Lee Johnson Capital Management LLC

Key Points

• Lee Johnson Capital Management LLC reduced its holdings in Robinhood Markets by 2.6%, now owning 76,085 shares worth approximately $7.12 million.
• Robinhood's stock price has seen a notable increase of 12.3%, currently trading at $136.72 with a market cap of $121.50 billion.
• Several brokerages raised their price targets for Robinhood, with Needham & Company setting it as high as $120, reflecting a bullish sentiment among analysts.

Lee Johnson Capital Management LLC reduced its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 2.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 76,085 shares of the company's stock after selling 2,011 shares during the quarter. Robinhood Markets comprises about 2.5% of Lee Johnson Capital Management LLC's holdings, making the stock its 7th largest position. Lee Johnson Capital Management LLC's holdings in Robinhood Markets were worth $7,124,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in 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 during the period. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at $951,479,000. AGF Management Ltd. increased its stake in 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 during the period. Charles Schwab Investment Management Inc. increased its stake in 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 during the period. Finally, Northern Trust Corp increased its stake in 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 during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HOOD. Needham & Company LLC boosted their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. JMP Securities boosted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Barclays boosted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. KeyCorp boosted their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.06.

Robinhood Markets Stock Up 12.3%

Robinhood Markets stock opened at $136.72 on Tuesday. Robinhood Markets, Inc. has a 52 week low of $22.05 and a 52 week high of $136.84. The firm's 50-day simple moving average is $111.13 and its 200 day simple moving average is $80.02. The firm has a market capitalization of $121.50 billion, a PE ratio of 69.40, a P/E/G ratio of 4.34 and a beta of 2.36.

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

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $124.13, for a total transaction of $727,898.32. Following the completion of the transaction, the chief technology officer owned 17,816 shares in the company, valued at approximately $2,211,500.08. This trade represents a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,931,462 shares of company stock worth $511,774,417. 19.95% of the stock is 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.

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