Benin Management CORP Makes New Investment in Robinhood Markets, Inc. $HOOD

Benin Management CORP acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,000 shares of the company’s stock, valued at approximately $281,000.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased 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 worth $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. WCM Investment Management LLC increased its position in shares of Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Robinhood Markets in the second quarter worth $951,479,000. AGF Management Ltd. increased 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 worth $239,053,000 after purchasing an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after purchasing an additional 131,620 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of recent analyst reports. Bank of America raised their price target on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Barclays raised their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Piper Sandler restated an “overweight” rating and issued a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. KeyCorp lifted their target price 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, Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $118.94.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $131.84 on Wednesday. The company has a market cap of $117.16 billion, a price-to-earnings ratio of 66.92, a PEG ratio of 3.59 and a beta of 2.42. The firm has a 50 day simple moving average of $122.06 and a 200 day simple moving average of $90.63. Robinhood Markets, Inc. has a one year low of $23.00 and a one year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 earnings per share. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 60,113 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was 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. In the last 90 days, insiders sold 5,181,462 shares of company stock valued at $567,328,871. Corporate insiders own 19.95% of the company’s stock.

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.