Robinhood Markets, Inc. $HOOD Shares Bought by Clare Market Investments LLC

Clare Market Investments LLC boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 12.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 25,585 shares of the company’s stock after acquiring an additional 2,735 shares during the period. Clare Market Investments LLC’s holdings in Robinhood Markets were worth $2,396,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised 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 worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. AGF Management Ltd. raised 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 worth $239,053,000 after acquiring an additional 4,255,862 shares during the period. Charles Schwab Investment Management Inc. raised 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 worth $201,913,000 after acquiring an additional 131,620 shares during the period. Northern Trust Corp raised its position in Robinhood Markets by 4.2% during the first quarter. Northern Trust Corp now owns 4,061,398 shares of the company’s stock worth $169,035,000 after acquiring an additional 163,823 shares during the period. Finally, Wealthquest Corp acquired a new position in Robinhood Markets during the first quarter worth $156,193,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Up 1.9%

Shares of HOOD opened at $120.91 on Friday. Robinhood Markets, Inc. has a 12-month low of $22.05 and a 12-month high of $124.36. The firm has a 50-day moving average price of $107.87 and a 200 day moving average price of $75.37. The firm has a market capitalization of $107.45 billion, a P/E ratio of 61.38, a P/E/G ratio of 4.40 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD) last announced 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 net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Robinhood Markets’s quarterly revenue was up 45.0% on a year-over-year basis. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HOOD has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Compass Point increased their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Piper Sandler assumed coverage on shares of Robinhood Markets in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $120.00 target price for the company. Finally, JMP Securities increased their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.88.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares of the company’s stock, valued at $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares of the company’s stock, valued at approximately $59,170,943.39. This trade represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,767,855 shares of company stock valued at $588,837,174 over the last quarter. 14.47% of the stock is owned by insiders.

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.