Robinhood Markets, Inc. $HOOD Shares Bought by Coastline Trust Co

Key Points

• Coastline Trust Co increased its stake in Robinhood Markets by 140.5% during the second quarter, owning 5,539 shares valued at approximately $519,000.
• Robinhood reported $0.42 earnings per share for the recent quarter, exceeding expectations of $0.30, with a significant revenue increase of 45% year-over-year.
• Insider sales included Daniel Martin Gallagher, Jr. selling 225,000 shares and director Meyer Malka selling over 1 million shares, collectively totaling about $113 million in transactions.

Coastline Trust Co lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 140.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,539 shares of the company's stock after purchasing an additional 3,236 shares during the period. Coastline Trust Co's holdings in Robinhood Markets were worth $519,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. WD Rutherford LLC lifted its holdings in Robinhood Markets by 43.0% in the 2nd quarter. WD Rutherford LLC now owns 26,579 shares of the company's stock worth $2,489,000 after buying an additional 7,998 shares in the last quarter. CogentBlue Wealth Advisors LLC acquired a new stake in shares of Robinhood Markets during the second quarter valued at about $216,000. Tempus Wealth Planning LLC purchased a new stake in shares of Robinhood Markets during the second quarter worth about $639,000. Diversified Enterprises LLC acquired a new position in shares of Robinhood Markets in the second quarter worth about $248,000. Finally, West Branch Capital LLC purchased a new position in Robinhood Markets in the second quarter valued at about $94,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $121.78 on Friday. The company has a 50-day simple moving average of $110.49 and a 200-day simple moving average of $79.04. Robinhood Markets, Inc. has a one year low of $22.05 and a one year high of $130.07. The firm has a market capitalization of $108.22 billion, a P/E ratio of 61.82, 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 results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company 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 company posted $0.21 earnings per share. The business's revenue for the quarter was up 45.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HOOD. Barclays lifted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group increased their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $104.06.

Insider Activity at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was 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 approximately $59,170,943.39. The trade was a 27.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meyer Malka sold 1,093,288 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was 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 owned 3,976,234 shares in the company, 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. Insiders sold a total of 5,681,462 shares of company stock worth $581,726,917 in the last 90 days. Corporate insiders own 14.47% of the company's stock.

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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