PFG Investments LLC Boosts Holdings in Robinhood Markets, Inc. $HOOD

PFG Investments LLC grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 22.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,755 shares of the company’s stock after acquiring an additional 1,797 shares during the quarter. PFG Investments LLC’s holdings in Robinhood Markets were worth $913,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in Robinhood Markets in the 4th quarter worth about $588,000. GAMMA Investing LLC grew its stake in shares of Robinhood Markets by 5,733.0% during the first quarter. GAMMA Investing LLC now owns 341,700 shares of the company’s stock valued at $14,222,000 after buying an additional 335,842 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Robinhood Markets by 19.1% in the first quarter. Parallel Advisors LLC now owns 3,798 shares of the company’s stock worth $158,000 after buying an additional 609 shares during the period. Rhumbline Advisers lifted its stake in shares of Robinhood Markets by 5.0% during the 1st quarter. Rhumbline Advisers now owns 784,187 shares of the company’s stock worth $32,638,000 after acquiring an additional 37,640 shares during the last quarter. Finally, NBC Securities Inc. boosted its holdings in Robinhood Markets by 155,600.0% during the 1st quarter. NBC Securities Inc. now owns 1,557 shares of the company’s stock valued at $64,000 after acquiring an additional 1,556 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Robinhood Markets

In related news, Director Meyer Malka sold 1,093,288 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the sale, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. This represents a 21.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,906,462 shares of company stock worth $509,427,417. Company insiders own 14.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday. JMP Securities raised their price target on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Bank of America boosted their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Barclays lifted their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.59.

Robinhood Markets Stock Performance

Shares of HOOD opened at $145.70 on Friday. The company has a 50 day moving average price of $113.58 and a 200-day moving average price of $81.58. Robinhood Markets, Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $146.70. The stock has a market capitalization of $129.48 billion, a PE ratio of 73.96, a PEG ratio of 4.87 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.