Robinhood Markets, Inc. $HOOD Shares Purchased by Metavasi Capital LP

Key Points

• Metavasi Capital LP increased its holdings in Robinhood Markets, Inc. by 275.0% during the 1st quarter, owning 75,000 shares valued at approximately $3.1 million.
• Insider sales included Steven M. Quirk selling 104,887 shares for over $7.3 million, and Daniel Martin Gallagher, Jr. selling 225,000 shares for nearly $22.5 million, representing significant decreases in their ownership.
• Robinhood Markets recently reported $0.42 earnings per share for the quarter, surpassing analysts' estimates, with revenue of $989 million, reflecting a 45.0% year-over-year increase.

Metavasi Capital LP boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 275.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the company's stock after buying an additional 55,000 shares during the quarter. Robinhood Markets makes up about 2.0% of Metavasi Capital LP's holdings, making the stock its 19th largest position. Metavasi Capital LP's holdings in Robinhood Markets were worth $3,122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cigna Investments Inc. New raised its position in shares of Robinhood Markets by 2.7% during the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after acquiring an additional 174 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its position in shares of Robinhood Markets by 43.1% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 11,005 shares of the company's stock worth $458,000 after buying an additional 3,313 shares during the last quarter. Northern Right Capital Management L.P. acquired a new position in shares of Robinhood Markets in the 1st quarter valued at $5,296,000. Firsthand Capital Management Inc. grew its position in shares of Robinhood Markets by 1,000.0% in the 1st quarter. Firsthand Capital Management Inc. now owns 11,000 shares of the company's stock valued at $458,000 after buying an additional 10,000 shares during the last quarter. Finally, Aragon Global Management LP raised its stake in Robinhood Markets by 215.0% during the 1st quarter. Aragon Global Management LP now owns 227,096 shares of the company's stock worth $9,452,000 after acquiring an additional 154,996 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares in the company, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,818,493 shares of company stock valued at $570,818,204 in the last three months. Insiders own 19.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HOOD. Needham & Company LLC lifted their target price on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. JMP Securities lifted their price target on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Compass Point raised their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Mizuho upped their price target on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Stock Up 0.3%

Shares of NASDAQ:HOOD opened at $104.03 on Monday. Robinhood Markets, Inc. has a 52 week low of $18.71 and a 52 week high of $117.70. The company has a 50-day moving average price of $101.69 and a 200 day moving average price of $70.00. The company has a market cap of $92.45 billion, a P/E ratio of 52.81, a PEG ratio of 3.81 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released 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 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 quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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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