Tucker Asset Management LLC Makes New $536,000 Investment in Robinhood Markets, Inc. $HOOD

Tucker Asset Management LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,347 shares of the company’s stock, valued at approximately $536,000.

Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in Robinhood Markets by 86.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock valued at $11,406,000 after purchasing an additional 46,688 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Robinhood Markets by 196.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after buying an additional 478,919 shares during the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of Robinhood Markets by 107.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock valued at $30,832,000 after buying an additional 141,440 shares during the period. Ilmarinen Mutual Pension Insurance Co raised its stake in shares of Robinhood Markets by 17.6% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 120,000 shares of the company’s stock valued at $13,572,000 after buying an additional 18,000 shares during the period. Finally, Ethic Inc. lifted its position in shares of Robinhood Markets by 27.1% during the 4th quarter. Ethic Inc. now owns 62,482 shares of the company’s stock valued at $7,067,000 after buying an additional 13,321 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HOOD has been the subject of several research reports. Loop Capital set a $105.00 price target on Robinhood Markets in a research note on Thursday, July 30th. Barclays lowered their price objective on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Mizuho increased their target price on shares of Robinhood Markets from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.67.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 50,317 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $96.80, for a total transaction of $4,870,685.60. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $122.43, for a total transaction of $1,224,300.00. Following the completion of the sale, the insider owned 509,943 shares in the company, valued at $62,432,321.49. This represents a 1.92% 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. In the last 90 days, insiders sold 626,283 shares of company stock valued at $69,070,083. Company insiders own 13.48% of the company’s stock.

Key Stories Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
• Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
• Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $122.11 on Monday. The business’s fifty day moving average is $102.73 and its 200 day moving average is $88.34. The firm has a market cap of $109.79 billion, a price-to-earnings ratio of 53.79, a PEG ratio of 2.50 and a beta of 2.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. Robinhood Markets, Inc. has a 52-week low of $63.51 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.44 by $0.18. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The firm’s revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Research analysts predict that Robinhood Markets, Inc. will post 2.09 EPS for the current year.

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.