Clarity Capital Partners LLC Takes Position in Robinhood Markets, Inc. $HOOD

Clarity Capital Partners LLC bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,318 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Robinhood Markets in the 2nd quarter worth about $36,000. Ameritas Advisory Services LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth about $56,000. Hemington Wealth Management boosted its position in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 218 shares during the period. Wayfinding Financial LLC acquired a new stake in Robinhood Markets during the 1st quarter worth about $30,000. Finally, ST Germain D J Co. Inc. acquired a new stake in Robinhood Markets during the 2nd quarter worth about $72,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $148.67 on Friday. The firm has a market cap of $132.12 billion, a price-to-earnings ratio of 75.47, a P/E/G ratio of 4.05 and a beta of 2.42. The business’s 50-day simple moving average is $114.45 and its 200-day simple moving average is $82.33. Robinhood Markets, Inc. has a 52 week low of $22.61 and a 52 week high of $150.21.

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

Insider Buying and Selling

In other news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director directly owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,656,462 shares of company stock valued at $614,224,917. 14.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HOOD. JMP Securities raised their price objective on Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Piper Sandler restated an “overweight” rating and set a $140.00 price objective (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Morgan Stanley raised their price objective on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their price target on Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a research note on Thursday, July 31st. Finally, KeyCorp raised their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and a consensus price target of $113.59.

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.