MBB Public Markets I LLC Invests $809,000 in Robinhood Markets, Inc. (NASDAQ:HOOD)

MBB Public Markets I LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, HoldingsChannel.com reports. The firm purchased 35,610 shares of the company’s stock, valued at approximately $809,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Angeles Wealth Management LLC lifted its holdings in shares of Robinhood Markets by 5.3% during the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after acquiring an additional 610 shares during the period. GAMMA Investing LLC increased its position in shares of Robinhood Markets by 44.9% during the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after buying an additional 710 shares during the period. PNC Financial Services Group Inc. boosted its stake in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Whittier Trust Co. boosted its stake in Robinhood Markets by 25.8% during the first quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after acquiring an additional 1,194 shares in the last quarter. Finally, ORG Partners LLC bought a new position in shares of Robinhood Markets in the second quarter valued at $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Down 4.7 %

Shares of NASDAQ HOOD opened at $22.33 on Wednesday. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $24.88. The business’s 50 day moving average price is $20.48 and its 200 day moving average price is $20.28. The firm has a market cap of $19.62 billion, a P/E ratio of 148.87 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same period in the prior year, the company earned $0.03 EPS. The firm’s revenue was up 40.3% compared to the same quarter last year. As a group, research analysts expect that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,191,596 shares of company stock worth $23,318,793. 19.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HOOD. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research report on Wednesday, June 26th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.63.

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.