JW Asset Management LLC Purchases 31,000 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• JW Asset Management LLC significantly increased its holdings in Robinhood Markets by 310.0% during the first quarter, now owning 41,000 shares valued at approximately $1.7 million.
• Robinhood recently reported $0.42 EPS for the quarter, exceeding analysts' estimates of $0.30, with revenues reaching $989 million, up 45% compared to the same quarter last year.
• Several analysts have upgraded their price targets for Robinhood Markets, with Piper Sandler and others setting targets as high as $120.00, reflecting a positive outlook on the stock.

JW Asset Management LLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 310.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,000 shares of the company's stock after purchasing an additional 31,000 shares during the period. Robinhood Markets makes up about 1.0% of JW Asset Management LLC's portfolio, making the stock its 11th largest holding. JW Asset Management LLC's holdings in Robinhood Markets were worth $1,706,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Orion Portfolio Solutions LLC lifted its holdings in shares of Robinhood Markets by 64.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,179 shares of the company's stock worth $603,000 after acquiring an additional 6,312 shares during the period. Wellington Management Group LLP bought a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $588,000. Alliancebernstein L.P. lifted its holdings in shares of Robinhood Markets by 141.7% during the 4th quarter. Alliancebernstein L.P. now owns 652,527 shares of the company's stock worth $24,313,000 after acquiring an additional 382,583 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Robinhood Markets by 15.3% during the 4th quarter. Franklin Resources Inc. now owns 311,225 shares of the company's stock worth $11,596,000 after acquiring an additional 41,348 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of Robinhood Markets by 360.2% during the 4th quarter. Huntington National Bank now owns 1,652 shares of the company's stock worth $62,000 after acquiring an additional 1,293 shares during the period. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 5.3%

Shares of HOOD stock traded up $5.58 during mid-day trading on Thursday, reaching $111.23. 44,572,928 shares of the company's stock traded hands, compared to its average volume of 45,380,568. Robinhood Markets, Inc. has a 12 month low of $16.68 and a 12 month high of $113.44. The company has a market cap of $98.49 billion, a P/E ratio of 56.46, a P/E/G ratio of 4.03 and a beta of 2.36. The company's 50-day moving average price is $90.33 and its 200-day moving average price is $63.55.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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 business had revenue of $989.00 million during 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 business's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Needham & Company LLC upped their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Barclays increased their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Piper Sandler increased their target price on shares of Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average price target of $96.29.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm's 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 in the company, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. Insiders have sold 4,870,760 shares of company stock worth $443,132,553 over the last quarter. Company 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.