Robinhood Markets, Inc. $HOOD Shares Purchased by Venture Visionary Partners LLC

Key Points

• Venture Visionary Partners LLC increased its holdings in Robinhood Markets by 63% during the second quarter, owning 125,420 shares worth approximately $11.7 million.
• Insider transactions revealed that Director Meyer Malka sold over 1 million shares for approximately $113.6 million, resulting in a 21.57% decrease in his ownership stake.
• Analysts have upgraded their price targets for Robinhood Markets, with Needham & Company raising it from $71 to $120, currently maintaining an average "Moderate Buy" consensus rating.

Venture Visionary Partners LLC boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 63.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,420 shares of the company's stock after acquiring an additional 48,494 shares during the quarter. Venture Visionary Partners LLC's holdings in Robinhood Markets were worth $11,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets during the second quarter worth about $36,000. Whipplewood Advisors LLC lifted its stake in shares of 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 in the last quarter. Hemington Wealth Management lifted its stake in shares of 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 in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets during the first quarter worth about $30,000. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Robinhood Markets during the second quarter worth about $72,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Needham & Company LLC boosted their price objective on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. KeyCorp boosted their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Morgan Stanley boosted their price target on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup increased their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. Finally, Cantor Fitzgerald upped their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $104.06.

Insider Transactions at Robinhood Markets

In other news, Director Meyer Malka sold 1,093,288 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the transaction, the director directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. This represents a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. Insiders sold 5,681,462 shares of company stock valued at $581,726,917 over the last 90 days. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Stock Down 0.7%

Shares of Robinhood Markets stock opened at $121.78 on Monday. The firm has a market cap of $108.22 billion, a P/E ratio of 61.82, a P/E/G ratio of 4.34 and a beta of 2.36. Robinhood Markets, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $130.07. The business has a 50-day moving average price of $110.49 and a 200 day moving average price of $79.34.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million during 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 quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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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