M1 Capital Management LLC Takes $236,000 Position in Robinhood Markets, Inc. $HOOD

M1 Capital Management LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,523 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds have also recently modified their holdings of HOOD. NBC Securities Inc. increased its holdings in shares of Robinhood Markets by 155,600.0% during the first 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 in the last quarter. Farther Finance Advisors LLC increased its holdings in Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock worth $290,000 after buying an additional 265 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in Robinhood Markets in the 1st quarter worth approximately $277,000. GAMMA Investing LLC increased its holdings in Robinhood Markets by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 8,210 shares of the company’s stock worth $342,000 after buying an additional 2,352 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Robinhood Markets by 58.6% in the 1st quarter. SG Americas Securities LLC now owns 95,368 shares of the company’s stock worth $3,969,000 after buying an additional 35,250 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $152.46 on Friday. Robinhood Markets, Inc. has a 1 year low of $23.00 and a 1 year high of $153.86. The firm has a market capitalization of $135.49 billion, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 4.19 and a beta of 2.42. The business’s 50 day moving average price is $117.92 and its 200-day moving average price is $85.18.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results 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 return on equity of 17.48% and a net margin of 50.13%.The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same quarter last year, the firm posted $0.21 EPS. The business’s revenue was up 45.0% on a year-over-year basis. On average, sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on HOOD shares. Mizuho increased their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. Piper Sandler restated an “overweight” rating and issued a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday. Finally, Bank of America upped their price objective on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.94.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the firm’s stock in a transaction 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were 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 owned 3,976,234 shares in the company, valued at $413,011,425.58. The trade was a 21.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,681,122 shares of company stock worth $618,215,681. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Company 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.