State of Wyoming Invests $160,000 in Robinhood Markets, Inc. $HOOD

Key Points

• The State of Wyoming has invested approximately $160,000 in Robinhood Markets, acquiring 3,843 shares in the first quarter, according to the latest SEC filings.
• Robinhood Markets reported $0.42 EPS for the last quarter, beating analysts' expectations of $0.30, with quarterly revenue up 45.0% year-over-year.
• Insider trading activity included significant sales by CEO Vladimir Tenev, who sold 750,000 shares for approximately $69.95 million, highlighting notable insider transactions.

State of Wyoming purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,843 shares of the company's stock, valued at approximately $160,000.

Several other hedge funds have also recently modified their holdings of the business. Hemington Wealth Management raised its stake in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Farther Finance Advisors LLC increased its position in Robinhood Markets by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after acquiring an additional 265 shares during the last quarter. Allworth Financial LP increased its position in Robinhood Markets by 23.4% during the first quarter. Allworth Financial LP now owns 1,401 shares of the company's stock valued at $58,000 after acquiring an additional 266 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Robinhood Markets by 0.8% during the first quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock valued at $1,520,000 after acquiring an additional 272 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in Robinhood Markets by 2.3% during the first quarter. MetLife Investment Management LLC now owns 12,082 shares of the company's stock valued at $503,000 after acquiring an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Down 1.6%

Shares of HOOD opened at $101.25 on Friday. The business has a 50-day simple moving average of $103.72 and a two-hundred day simple moving average of $71.23. The stock has a market cap of $89.98 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 3.77 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $18.71 and a 52 week high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total value of $7,838,154.72. Following the transaction, the insider directly owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Insiders sold 5,767,854 shares of company stock worth $569,828,413 in the last quarter. 14.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HOOD. Needham & Company LLC upped their price objective on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Citigroup upped their price objective on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Morgan Stanley upped their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. KeyCorp upped their price objective on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Cantor Fitzgerald upped their price objective 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 investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

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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