Strategic Investment Solutions Inc. IL Purchases 3,845 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Strategic Investment Solutions Inc. IL increased its holdings in Robinhood Markets, Inc. by 96,125.0% in the second quarter, owning 3,849 shares worth $360,000.
• Robinhood's recent quarterly earnings surpassed expectations, reporting $0.42 EPS and revenue of $989 million, marking a 45% year-over-year increase.
• A significant portion of Robinhood's stock, approximately 93.27%, is owned by institutional investors, indicating strong institutional support for the company.

Strategic Investment Solutions Inc. IL increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 96,125.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,849 shares of the company's stock after acquiring an additional 3,845 shares during the period. Strategic Investment Solutions Inc. IL's holdings in Robinhood Markets were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOOD. Kingstone Capital Partners Texas LLC bought a new stake in Robinhood Markets during the 2nd quarter worth approximately $951,479,000. Vanguard Group Inc. increased its holdings in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. AGF Management Ltd. increased its holdings in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Wealthquest Corp bought a new position in shares of Robinhood Markets in the 1st quarter worth $156,193,000. Finally, Altimeter Capital Management LP bought a new position in shares of Robinhood Markets in the 1st quarter worth $120,103,000. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HOOD. JMP Securities increased their price target on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Morgan Stanley increased their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Needham & Company LLC increased their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $104.06.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $122.65 on Friday. Robinhood Markets, Inc. has a 52-week low of $22.05 and a 52-week high of $130.07. The stock has a market capitalization of $109.00 billion, a price-to-earnings ratio of 62.26, a price-to-earnings-growth ratio of 4.52 and a beta of 2.36. The company has a fifty day moving average of $110.25 and a 200-day moving average of $78.17.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The company 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 firm's revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. On average, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the completion of the sale, the insider 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 the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,462 shares of company stock worth $581,726,917 over the last ninety days. 14.47% of the stock is owned by company 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.

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