TriaGen Wealth Management LLC Purchases Shares of 8,454 Robinhood Markets, Inc. $HOOD

Key Points

• TriaGen Wealth Management LLC purchased 8,454 shares of Robinhood Markets, Inc., valued at approximately $792,000, in the second quarter.
• Institutional investors collectively own 93.27% of Robinhood Markets' stock, with notable investments from firms like Vanguard Group and AGF Management.
• Robinhood reported a 45% increase in revenue year-over-year, with earnings per share (EPS) of $0.42 for the last quarter, surpassing estimates by $0.12.

TriaGen Wealth Management LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,454 shares of the company's stock, valued at approximately $792,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. Kingstone Capital Partners Texas LLC purchased a new position in shares of Robinhood Markets in the 2nd quarter worth about $951,479,000. Vanguard Group Inc. increased its position 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 purchasing an additional 5,874,701 shares in the last quarter. AGF Management Ltd. increased its position in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Wealthquest Corp purchased a new position in Robinhood Markets in the first quarter valued at approximately $156,193,000. Finally, Altimeter Capital Management LP acquired a new position in Robinhood Markets during the first quarter valued at approximately $120,103,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $144.26 on Tuesday. Robinhood Markets, Inc. has a 1 year low of $22.72 and a 1 year high of $153.86. The firm's 50-day moving average is $115.20 and its 200-day moving average is $83.57. The company has a market cap of $128.20 billion, a P/E ratio of 73.23, a PEG ratio of 4.13 and a beta of 2.42.

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, topping the consensus estimate of $0.30 by $0.12. The business had revenue of $989.00 million for the quarter, compared to the consensus estimate 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 was up 45.0% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

HOOD has been the subject of several recent research reports. Compass Point increased their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. KeyCorp upped their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. JMP Securities raised their price objective on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Bank of America boosted their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods upped their target price on 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 equities research 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's stock. According to MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus target price of $113.59.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total value of $49,957,923.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,650,598 shares of company stock valued at $613,676,575. 19.95% of the stock is currently owned by insiders.

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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