ZEGA Investments LLC Acquires Shares of 2,221 Robinhood Markets, Inc. $HOOD

ZEGA Investments LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 2,221 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prospera Financial Services Inc acquired a new stake in shares of Robinhood Markets in the second quarter valued at approximately $510,000. AE Wealth Management LLC increased its stake in Robinhood Markets by 4.9% during the 2nd quarter. AE Wealth Management LLC now owns 67,285 shares of the company’s stock worth $6,300,000 after acquiring an additional 3,162 shares during the period. Metis Global Partners LLC raised its holdings in Robinhood Markets by 35.4% in the 2nd quarter. Metis Global Partners LLC now owns 14,679 shares of the company’s stock valued at $1,374,000 after acquiring an additional 3,841 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Robinhood Markets by 9.5% during the 2nd quarter. Penserra Capital Management LLC now owns 70,456 shares of the company’s stock valued at $6,596,000 after acquiring an additional 6,102 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in shares of Robinhood Markets by 373.6% during the 2nd quarter. Wedbush Securities Inc. now owns 43,757 shares of the company’s stock worth $4,097,000 after purchasing an additional 34,518 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Stock Up 2.6%

Shares of Robinhood Markets stock opened at $130.36 on Friday. The stock has a market cap of $115.85 billion, a price-to-earnings ratio of 54.09, a P/E/G ratio of 3.22 and a beta of 2.42. Robinhood Markets, Inc. has a twelve month low of $29.21 and a twelve month high of $153.86. The company’s fifty day moving average is $130.11 and its 200 day moving average is $99.54.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 22.13% and a net margin of 52.19%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up 100.0% on a year-over-year basis. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $146.91, for a total transaction of $861,480.24. Following the transaction, the chief technology officer directly owned 6,088 shares of the company’s stock, valued at $894,388.08. This represents a 49.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $133.11, for a total transaction of $55,684,971.18. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,385,742 shares of company stock valued at $403,923,453 in the last 90 days. Company insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup boosted their price target on Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. JMP Securities upped their target price on Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. The Goldman Sachs Group boosted their target price on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. CICC Research initiated coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Finally, Barclays increased their price objective on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.65.

About Robinhood Markets

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.