Venture Visionary Partners LLC Takes Position in Robinhood Markets, Inc. $HOOD

Key Points

• Venture Visionary Partners LLC acquired a new stake in Robinhood Markets, purchasing 76,926 shares valued at approximately $3,202,000 during the first quarter.
• Robinhood reported a 45% increase in quarterly revenue, reaching $989 million, and beat analysts' expectations with earnings per share of $0.42.
• Insider selling included significant transactions, with insiders selling a total of 4,644,685 shares valued at about $448.88 million in the last 90 days, indicating possible changes in sentiment among company leadership.

Venture Visionary Partners LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 76,926 shares of the company's stock, valued at approximately $3,202,000.

Several other large investors have also made changes to their positions in HOOD. Vanguard Group Inc. lifted its position in shares of Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares in the last quarter. AGF Management Ltd. lifted its position in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after acquiring an additional 4,255,862 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after acquiring an additional 3,994,745 shares in the last quarter. Wealthquest Corp purchased a new position in shares of Robinhood Markets in the first quarter valued at about $156,193,000. Finally, AQR Capital Management LLC lifted its position in shares of Robinhood Markets by 231.9% in the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after acquiring an additional 3,673,861 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $107.50 on Wednesday. Robinhood Markets, Inc. has a 1 year low of $18.71 and a 1 year high of $117.70. The stock's 50 day simple moving average is $96.89 and its two-hundred day simple moving average is $67.07. The company has a market cap of $95.53 billion, a PE ratio of 54.57, a price-to-earnings-growth ratio of 4.39 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company's quarterly revenue was up 45.0% compared to the same quarter last year. Equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 40,131 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total transaction of $4,202,117.01. Following the sale, the insider directly owned 120,408 shares in the company, valued at $12,607,921.68. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $109.39, for a total value of $45,761,993.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,644,685 shares of company stock valued at $448,881,884. Corporate insiders own 19.95% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on HOOD. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods boosted 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. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Cantor Fitzgerald boosted their target price on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley boosted their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Eleven research 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's stock. According to data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Company 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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