Robinhood Markets, Inc. $HOOD Shares Bought by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC increased its stake in Robinhood Markets by 126.2% during the second quarter, bringing its total holdings to 118,319 shares worth approximately $11.08 million.
• Insider trading activity revealed that Director Meyer Malka sold over 1 million shares for approximately $113.56 million, decreasing his ownership by 21.57%.
• Research analysts are optimistic about Robinhood's stock, with eleven analysts rating it as a Buy and an average target price of $101.88.

Fiduciary Alliance LLC grew its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 126.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,319 shares of the company's stock after buying an additional 66,018 shares during the quarter. Robinhood Markets accounts for about 0.8% of Fiduciary Alliance LLC's portfolio, making the stock its 22nd largest holding. Fiduciary Alliance LLC's holdings in Robinhood Markets were worth $11,078,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC boosted its position in Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after purchasing an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,186 shares in the last quarter. Wellington Management Group LLP raised its holdings in Robinhood Markets by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after purchasing an additional 486 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Robinhood Markets by 125.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after purchasing an additional 10,703 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new position in Robinhood Markets during the first quarter worth approximately $277,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 92,257 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the sale, the insider owned 136,364 shares in the company, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,773,719 shares of company stock worth $589,293,510 over the last three months. 19.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Compass Point lifted their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. 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 price target on the stock. Cantor Fitzgerald boosted their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Citigroup raised their target price on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $101.88.

Robinhood Markets Stock Down 0.2%

NASDAQ:HOOD opened at $114.83 on Tuesday. Robinhood Markets, Inc. has a 52 week low of $21.50 and a 52 week high of $123.44. The stock's fifty day moving average is $106.42 and its two-hundred day moving average is $74.26. The stock has a market capitalization of $102.05 billion, a price-to-earnings ratio of 58.29, a price-to-earnings-growth ratio of 4.11 and a beta of 2.36.

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

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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