Odyssean LLC Acquires Shares of 24,792 Robinhood Markets, Inc. $HOOD

Odyssean LLC bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,792 shares of the company’s stock, valued at approximately $2,486,000.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in Robinhood Markets by 46.7% in the 1st quarter. Empowered Funds LLC now owns 49,870 shares of the company’s stock worth $2,076,000 after buying an additional 15,885 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Robinhood Markets in the 2nd quarter worth approximately $5,105,000. Federated Hermes Inc. increased its stake in shares of Robinhood Markets by 106.2% during the second quarter. Federated Hermes Inc. now owns 63,957 shares of the company’s stock valued at $5,988,000 after buying an additional 32,933 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Robinhood Markets by 19.1% during the second quarter. NewEdge Advisors LLC now owns 89,676 shares of the company’s stock valued at $8,396,000 after acquiring an additional 14,356 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new position in shares of Robinhood Markets during the second quarter valued at approximately $1,316,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price target (up from $135.00) on shares of Robinhood Markets in a report on Wednesday. Sanford C. Bernstein raised their target price on shares of Robinhood Markets from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Loop Capital set a $105.00 target price on Robinhood Markets in a research report on Thursday, July 30th. Finally, Zacks Research upgraded Robinhood Markets from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Twenty-three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.67.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $122.11 on Friday. Robinhood Markets, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The business has a fifty day moving average price of $102.73 and a 200-day moving average price of $88.26. The company has a market capitalization of $109.79 billion, a PE ratio of 53.79, a PEG ratio of 2.56 and a beta of 2.34.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted $0.42 EPS. Robinhood Markets’s revenue was up 32.5% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets, Inc. will post 2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paula Loop sold 8,336 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $120.00, for a total transaction of $1,000,320.00. Following the completion of the sale, the director owned 63,674 shares of the company’s stock, valued at $7,640,880. This trade represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 57,898 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $89.63, for a total transaction of $5,189,397.74. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 626,283 shares of company stock valued at $69,070,083. 13.48% of the stock is owned by company insiders.

Robinhood Markets News Roundup

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
• Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
• Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.