Robinhood Markets, Inc. $HOOD Shares Purchased by Allstate Corp

Key Points

• Allstate Corp increased its stake in Robinhood Markets, Inc. by 70.6%, owning a total of 26,967 shares valued at approximately $1.12 million by the end of the first quarter.
• Robinhood's share price performance shows a market cap of $97.15 billion with a 12-month high of $117.70, and analysts have a consensus rating of "Moderate Buy" with an average price target of $100.31.
• Insider transactions revealed that CEO Vladimir Tenev sold 385,485 shares and Daniel Martin Gallagher, Jr. sold 25,000 shares, contributing to a total of 4,644,685 shares sold by insiders in the last ninety days.

Allstate Corp raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 70.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,967 shares of the company's stock after purchasing an additional 11,162 shares during the period. Allstate Corp's holdings in Robinhood Markets were worth $1,122,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management increased its position in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the first quarter worth approximately $30,000. Pandora Wealth Inc. acquired a new position in Robinhood Markets during the first quarter worth approximately $33,000. Finally, CoreCap Advisors LLC increased its position in Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on HOOD shares. Piper Sandler upped their price target on shares of Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. JMP Securities upped their target price 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. Compass Point upped their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. KeyCorp upped their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Citigroup upped their target price on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Price Performance

HOOD opened at $109.32 on Friday. The stock has a market capitalization of $97.15 billion, a PE ratio of 55.49, a P/E/G ratio of 4.01 and a beta of 2.36. The firm's fifty day moving average price is $98.88 and its 200 day moving average price is $68.20. Robinhood Markets, Inc. has a 12-month low of $18.71 and a 12-month high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm's quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $104.23, for a total value of $2,605,750.00. Following the sale, the insider directly owned 566,887 shares of the company's stock, valued at $59,086,632.01. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 385,485 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total transaction of $39,280,921.50. The disclosure for this sale can be found here. Insiders sold a total of 4,644,685 shares of company stock valued at $448,881,884 over the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets 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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