Robinhood Markets, Inc. $HOOD Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Robinhood Markets by 26.1% during the 2nd quarter, owning 95,137 shares valued at $8,908,000.
• Robinhood reported earnings per share of $0.42 for the quarter, exceeding the consensus estimate of $0.30, with a revenue of $989 million, up 45% year-over-year.
• Several analysts have raised their price targets for Robinhood, with Piper Sandler increasing its target to $140 and Citigroup raising it to $135, reflecting a consensus rating of "Moderate Buy."

Janney Montgomery Scott LLC boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 26.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,137 shares of the company's stock after purchasing an additional 19,715 shares during the quarter. Janney Montgomery Scott LLC's holdings in Robinhood Markets were worth $8,908,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HOOD. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets in the 2nd quarter valued at $951,479,000. Vanguard Group Inc. boosted its holdings in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. AGF Management Ltd. boosted its holdings in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after acquiring an additional 4,255,862 shares during the period. Wealthquest Corp acquired a new stake in Robinhood Markets in the 1st quarter valued at about $156,193,000. Finally, Altimeter Capital Management LP acquired a new stake in shares of Robinhood Markets during the 1st quarter worth about $120,103,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $148.67 on Friday. Robinhood Markets, Inc. has a 1 year low of $22.61 and a 1 year high of $150.21. The stock has a market cap of $132.12 billion, a PE ratio of 75.47, a price-to-earnings-growth ratio of 4.13 and a beta of 2.42. The business's fifty day moving average is $114.45 and its 200-day moving average is $82.60.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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 company had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm's revenue for the quarter was up 45.0% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on HOOD shares. Piper Sandler reaffirmed an "overweight" rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Cantor Fitzgerald boosted their target price on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Citigroup boosted their price target on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Mizuho upped their target price on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Finally, 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 research note on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.59.

Insider Buying and Selling

In related news, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction 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 $413,011,425.58. The trade was a 21.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets 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 completion of the transaction, the insider owned 591,887 shares in the company, valued at $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,656,462 shares of company stock valued at $614,224,917. 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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