RHL Group LLC Makes New Investment in Robinhood Markets, Inc. $HOOD

RHL Group LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, HoldingsChannel reports. The fund bought 11,980 shares of the company’s stock, valued at approximately $1,355,000. Robinhood Markets makes up about 1.1% of RHL Group LLC’s portfolio, making the stock its 13th largest position.

A number of other hedge funds have also bought and sold shares of the business. Caisse Des Depots ET Consignations bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $3,984,000. Aberdeen Group plc grew its stake in shares of Robinhood Markets by 565.1% during the 3rd quarter. Aberdeen Group plc now owns 185,538 shares of the company’s stock valued at $26,565,000 after purchasing an additional 157,643 shares during the period. NEOS Investment Management LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $11,994,000. New York Life Investment Management LLC bought a new stake in shares of Robinhood Markets during the 3rd quarter valued at about $14,989,000. Finally, Truist Financial Corp grew its stake in shares of Robinhood Markets by 88.9% during the 4th quarter. Truist Financial Corp now owns 145,489 shares of the company’s stock valued at $16,455,000 after purchasing an additional 68,458 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $69.85, for a total value of $407,574.75. Following the completion of the transaction, the chief technology officer directly owned 18,006 shares in the company, valued at $1,257,719.10. This represents a 24.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.89, for a total value of $768,900.00. Following the completion of the transaction, the insider owned 432,849 shares of the company’s stock, valued at $33,281,759.61. The trade was a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 560,765 shares of company stock worth $40,946,840 in the last quarter. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $73.64 on Monday. The stock has a 50 day moving average of $76.11 and a 200 day moving average of $96.12. The company has a market cap of $66.31 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.39 and a beta of 2.29. Robinhood Markets, Inc. has a 12-month low of $62.63 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.14 billion. Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. Equities research analysts predict that Robinhood Markets, Inc. will post 1.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of recent research reports. Wall Street Zen downgraded Robinhood Markets from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 price target on shares of Robinhood Markets in a research note on Wednesday, April 29th. Sanford C. Bernstein restated an “outperform” rating and set a $130.00 price target on shares of Robinhood Markets in a research note on Tuesday, April 14th. Loop Capital set a $130.00 price objective on Robinhood Markets in a research note on Monday, February 9th. Finally, Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research note on Monday, February 9th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.88.

Robinhood Markets Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.