SLT Holdings LLC Invests $538,000 in Robinhood Markets, Inc. $HOOD

SLT Holdings LLC acquired a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,742 shares of the company’s stock, valued at approximately $538,000.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC increased its position in shares of Robinhood Markets by 6.4% during the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after buying an additional 3,032 shares during the period. TD Private Client Wealth LLC grew its holdings in Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock worth $76,000 after purchasing an additional 1,186 shares during the period. Wellington Management Group LLP grew its holdings in Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after purchasing an additional 486 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock worth $799,000 after purchasing an additional 10,703 shares during the period. Finally, Wealthcare Advisory Partners LLC acquired a new stake in Robinhood Markets in the first quarter worth $277,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Down 8.9%

Robinhood Markets stock opened at $138.96 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 $123.49 billion, a price-to-earnings ratio of 70.54, a price-to-earnings-growth ratio of 4.24 and a beta of 2.42. The firm’s fifty day moving average price is $118.70 and its two-hundred day moving average price is $85.80.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same period last year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 45.0% compared to the same quarter last year. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares of the company’s stock, valued at $59,170,943.39. This trade represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at $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. Insiders sold 5,681,122 shares of company stock valued at $618,215,681 over the last ninety days. Company insiders own 14.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HOOD. Needham & Company LLC raised their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Citigroup raised their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. KeyCorp raised their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.94.

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.