Silver Oak Securities Incorporated Takes $1.40 Million Position in Robinhood Markets, Inc. $HOOD

Key Points

• Silver Oak Securities Incorporated acquired 14,922 shares of Robinhood Markets, Inc. (NASDAQ:HOOD), valued at approximately $1,397,000, during the second quarter, reflecting increased institutional interest in the stock.
• Several analysts have raised their price targets on Robinhood Markets, with JMP Securities increasing theirs from $125.00 to $130.00 and Needham & Company raising it to $120.00, indicating a strong consensus for future growth.
• Company insiders have sold a total of 5,767,855 shares in the last ninety days, with notable sales by directors Baiju Bhatt and Meyer Malka, which reflects ongoing changes in insider ownership.

Silver Oak Securities Incorporated acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,922 shares of the company's stock, valued at approximately $1,397,000.

A number of other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in Robinhood Markets by 380,633.3% in the 2nd quarter. UMB Bank n.a. now owns 45,688 shares of the company's stock worth $4,278,000 after acquiring an additional 45,676 shares during the last quarter. SeaCrest Wealth Management LLC increased its stake in Robinhood Markets by 79.1% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 33,533 shares of the company's stock worth $3,140,000 after acquiring an additional 14,811 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Robinhood Markets in the 2nd quarter worth approximately $951,479,000. IFM Investors Pty Ltd increased its stake in Robinhood Markets by 27.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 137,434 shares of the company's stock worth $12,868,000 after acquiring an additional 29,747 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of Robinhood Markets during the 2nd quarter valued at approximately $74,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $1.24 during mid-day trading on Tuesday, hitting $126.13. The stock had a trading volume of 22,397,653 shares, compared to its average volume of 42,324,668. Robinhood Markets, Inc. has a 12-month low of $22.05 and a 12-month high of $127.78. The firm has a market capitalization of $112.09 billion, a P/E ratio of 64.03, a price-to-earnings-growth ratio of 4.62 and a beta of 2.36. The firm's 50-day moving average is $108.90 and its two-hundred day moving average is $76.89.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 return on equity of 17.48% and a net margin of 50.13%.The business's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 EPS. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several analyst reports. Piper Sandler reissued an "overweight" rating and set a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday. Redburn Atlantic restated a "sell" rating and set a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. 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 report on Monday, June 9th. Needham & Company LLC boosted their price objective on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Eleven investment 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. According to MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $104.06.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the transaction, the insider directly owned 610,949 shares of the company's stock, valued at $61,656,973.08. This represents a 3.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $99.83, for a total value of $585,502.95. Following the transaction, the chief technology officer directly owned 23,680 shares in the company, valued at $2,363,974.40. This represents a 19.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,767,855 shares of company stock worth $588,837,174 over the last ninety days. 19.95% of the stock is currently owned by corporate insiders.

About Robinhood Markets

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.