R Squared Ltd Purchases Shares of 4,180 Robinhood Markets, Inc. $HOOD

R Squared Ltd purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, HoldingsChannel reports. The firm purchased 4,180 shares of the company’s stock, valued at approximately $391,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the period. WCM Investment Management LLC boosted its position in Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Robinhood Markets during the second quarter valued at about $951,479,000. AGF Management Ltd. boosted its position in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after buying an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Robinhood Markets by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock valued at $201,913,000 after buying an additional 131,620 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm’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 transaction of $104,797,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,175,598 shares of company stock valued at $579,779,430. 14.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. KeyCorp increased their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Finally, JMP Securities increased their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and a consensus target price of $118.94.

Robinhood Markets Price Performance

HOOD stock opened at $139.79 on Friday. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The company has a market cap of $124.23 billion, a P/E ratio of 70.96, a PEG ratio of 3.49 and a beta of 2.42. The firm has a 50-day moving average of $123.41 and a 200 day moving average of $92.29.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the firm earned $0.21 earnings per share. Robinhood Markets’s revenue was up 45.0% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

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.