TABR Capital Management LLC Invests $268,000 in Robinhood Markets, Inc. $HOOD

Key Points

• TABR Capital Management LLC invested $268,000 in Robinhood Markets, Inc., acquiring 2,867 shares during the second quarter, making Robinhood 0.2% of its portfolio.
• Robinhood recently reported $0.42 EPS for the quarter, exceeding estimates, and quarterly revenue rose by 45% year-over-year, totaling $989 million.
• Analysts have varied price targets for Robinhood, with estimates ranging from as low as $48 to as high as $145, reflecting mixed market sentiment.

TABR Capital Management LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,867 shares of the company's stock, valued at approximately $268,000. Robinhood Markets makes up 0.2% of TABR Capital Management LLC's holdings, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HOOD. Wellington Management Group LLP purchased a new stake in shares of Robinhood Markets during the 4th quarter worth approximately $588,000. MassMutual Private Wealth & Trust FSB increased its position in Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after purchasing an additional 498 shares during the last quarter. GAMMA Investing LLC raised its stake in Robinhood Markets by 5,733.0% during the first quarter. GAMMA Investing LLC now owns 341,700 shares of the company's stock valued at $14,222,000 after purchasing an additional 335,842 shares in the last quarter. Parallel Advisors LLC lifted its position in Robinhood Markets by 19.1% during the first quarter. Parallel Advisors LLC now owns 3,798 shares of the company's stock valued at $158,000 after purchasing an additional 609 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Robinhood Markets by 5.0% in the 1st quarter. Rhumbline Advisers now owns 784,187 shares of the company's stock worth $32,638,000 after buying an additional 37,640 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Stock Up 4.7%

HOOD stock opened at $143.18 on Wednesday. Robinhood Markets, Inc. has a twelve month low of $22.05 and a twelve month high of $143.62. The firm has a market cap of $127.24 billion, a price-to-earnings ratio of 72.68, a PEG ratio of 4.87 and a beta of 2.36. The business's fifty day simple moving average is $111.96 and its two-hundred day simple moving average is $80.46.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data 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. 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 quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. Research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $119.42, for a total value of $49,957,923.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total value of $2,523,000.00. Following the transaction, the insider owned 610,949 shares in the company, valued at approximately $61,656,973.08. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,931,462 shares of company stock valued at $511,774,417 in the last ninety days. Corporate insiders own 19.95% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on HOOD shares. Redburn Atlantic restated a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research report on Monday, June 9th. The Goldman Sachs Group boosted their price objective on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Mizuho raised their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Citigroup lifted their target price on Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Finally, Morgan Stanley increased their price target 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $105.63.

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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