Oak Grove Capital LLC Acquires Shares of 3,400 Robinhood Markets, Inc. $HOOD

Oak Grove Capital LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,400 shares of the company’s stock, valued at approximately $318,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Vision MN LLC lifted its position in shares of Robinhood Markets by 1.7% during the second quarter. True Vision MN LLC now owns 6,858 shares of the company’s stock worth $642,000 after purchasing an additional 116 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Robinhood Markets by 0.8% during the second quarter. Forum Financial Management LP now owns 17,997 shares of the company’s stock worth $1,685,000 after purchasing an additional 134 shares during the last quarter. Hemington Wealth Management lifted its position in shares of Robinhood Markets by 22.5% during the second quarter. Hemington Wealth Management now owns 779 shares of the company’s stock worth $72,000 after purchasing an additional 143 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Robinhood Markets by 2.3% during the second quarter. Ballentine Partners LLC now owns 6,624 shares of the company’s stock worth $620,000 after purchasing an additional 148 shares during the last quarter. Finally, REAP Financial Group LLC lifted its position in shares of Robinhood Markets by 44.1% during the second quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock worth $49,000 after purchasing an additional 160 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 60,113 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the completion of the sale, the insider owned 565,949 shares in the company, valued at $83,952,874.66. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,175,598 shares of company stock valued at $579,779,430 in the last ninety days. Insiders own 19.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on HOOD shares. Mizuho increased their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research report on Saturday. Needham & Company LLC increased their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Bank of America increased their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Morgan Stanley raised their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average target price of $118.94.

Robinhood Markets Stock Up 4.1%

Shares of NASDAQ HOOD opened at $139.79 on Monday. The firm’s 50-day moving average price is $123.41 and its two-hundred day moving average price is $93.05. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86. The stock has a market capitalization of $124.23 billion, a P/E ratio of 70.96, a P/E/G ratio of 3.63 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same quarter last year, the business earned $0.21 earnings per share. Robinhood Markets’s revenue was up 45.0% compared to the same quarter last year. As a group, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

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.