SLT Holdings LLC Acquires Shares of 5,742 Robinhood Markets, Inc. $HOOD

Key Points

• SLT Holdings LLC has acquired 5,742 shares of Robinhood Markets, Inc. valued at approximately $538,000 during the second quarter.
• Insiders at Robinhood have sold 5,681,122 shares valued at $618.2 million in the last quarter, with significant sales from directors Baiju Bhatt and Meyer Malka.
• Multiple brokerages have raised their price targets for Robinhood, with Bank of America setting a target of $157.00 and JMP Securities increasing it to $170.00, indicating strong analyst support.

SLT Holdings LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,742 shares of the company's stock, valued at approximately $538,000.

A number of other institutional investors have also recently bought and sold shares of HOOD. V Square Quantitative Management LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $36,000. REAP Financial Group LLC lifted its holdings in shares of Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company's stock worth $49,000 after acquiring an additional 160 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth approximately $56,000. Hemington Wealth Management lifted its holdings in shares of Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $30,000. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were 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 owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,681,122 shares of company stock valued at $618,215,681. Insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

HOOD stock opened at $138.96 on Friday. The company has a 50 day simple moving average of $118.70 and a 200 day simple moving average of $85.80. The stock has a market cap of $123.49 billion, a price-to-earnings ratio of 70.54, a P/E/G ratio of 4.24 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period in the prior year, the company posted $0.21 EPS. The company's revenue was up 45.0% on a year-over-year basis. On average, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HOOD. Bank of America upped their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. JMP Securities upped their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.94.

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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