Oak Grove Capital LLC Makes New Investment in Robinhood Markets, Inc. $HOOD

Oak Grove Capital LLC purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,400 shares of the company’s stock, valued at approximately $318,000.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth $36,000. LGT Financial Advisors LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth $37,000. REAP Financial Group LLC lifted its stake in shares of Robinhood Markets by 44.1% during the 2nd quarter. REAP Financial Group LLC now owns 523 shares of the company’s stock worth $49,000 after purchasing an additional 160 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Robinhood Markets during the 2nd quarter worth $56,000. Finally, Hemington Wealth Management lifted its stake in shares of 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 purchasing an additional 218 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Up 4.1%

Shares of NASDAQ HOOD opened at $139.79 on Monday. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86. The company has a market cap of $124.23 billion, a P/E ratio of 70.96, a P/E/G ratio of 3.63 and a beta of 2.42. The stock has a fifty day moving average price of $123.41 and a 200 day moving average price of $93.05.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) 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 period in the prior year, the firm earned $0.21 EPS. The firm’s quarterly revenue was up 45.0% compared to the same quarter last year. On average, sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays upped their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Morgan Stanley upped their price objective on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Mizuho upped their price objective on Robinhood Markets from $120.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. JMP Securities upped their price objective on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, October 9th. Finally, The Goldman Sachs Group upped their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $133.11, for a total value of $55,684,971.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the completion of the sale, the chief technology officer owned 11,952 shares of the company’s stock, valued at approximately $1,763,278.56. This represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,175,598 shares of company stock worth $579,779,430 in the last quarter. 19.95% of the stock is owned by corporate insiders.

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.