Robinhood Markets, Inc. $HOOD Shares Purchased by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its Robinhood stake by 14.5% in the second quarter, bringing its holdings to 128,528 shares valued at approximately $12.9 million. Institutional investors and hedge funds collectively own 93.27% of HOOD.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $122.67. Recent targets range from $105 to $160, including bullish coverage from Scotiabank and Bernstein.
• Robinhood exceeded quarterly expectations, reporting adjusted EPS of $0.62 versus the $0.44 consensus and revenue of $1.31 billion, up 32.5% year over year. However, insiders sold 626,283 shares worth about $69.1 million over the past three months.

NEOS Investment Management LLC boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,528 shares of the company's stock after buying an additional 16,269 shares during the quarter. NEOS Investment Management LLC's holdings in Robinhood Markets were worth $12,889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CYBER HORNET ETFs LLC increased its holdings in shares of Robinhood Markets by 527.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company's stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in Robinhood Markets during the fourth quarter worth approximately $27,000. MV Capital Management Inc. purchased a new stake in Robinhood Markets during the fourth quarter worth approximately $27,000. C M Bidwell & Associates Ltd. purchased a new stake in Robinhood Markets during the second quarter worth approximately $27,000. Finally, Swiss RE Ltd. acquired a new position in Robinhood Markets in the fourth quarter valued at approximately $27,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HOOD shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. Scotiabank initiated coverage on shares of Robinhood Markets in a report on Wednesday. They issued a "sector outperform" rating and a $136.00 target price for the company. Loop Capital set a $105.00 price target on shares of Robinhood Markets in a research note on Thursday, July 30th. Barclays reduced their price target on shares of Robinhood Markets from $122.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Finally, Sanford C. Bernstein upped their price objective on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an "outperform" rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.67.

Insider Activity at Robinhood Markets

In other news, Director Baiju Bhatt sold 57,898 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $89.63, for a total value of $5,189,397.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Quirk sold 24,416 shares of Robinhood Markets stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $120.33, for a total value of $2,937,977.28. Following the completion of the sale, the insider owned 77,839 shares in the company, valued at approximately $9,366,366.87. This trade represents a 23.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 626,283 shares of company stock worth $69,070,083 in the last three months. 13.48% of the stock is currently owned by corporate insiders.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
• Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
• Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million

Robinhood Markets Stock Down 2.1%

HOOD stock opened at $122.11 on Friday. The stock has a market capitalization of $109.79 billion, a PE ratio of 53.79, a price-to-earnings-growth ratio of 2.50 and a beta of 2.34. The company has a fifty day moving average of $102.73 and a 200-day moving average of $88.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. Robinhood Markets, Inc. has a one year low of $63.51 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.18. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The business's revenue was up 32.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, analysts expect that Robinhood Markets, Inc. will post 2.09 EPS for the current year.

About Robinhood Markets

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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