Alpha Cubed Investments LLC Makes New Investment in Robinhood Markets, Inc. $HOOD

Alpha Cubed Investments LLC acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 41,514 shares of the company’s stock, valued at approximately $3,887,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. WCM Investment Management LLC lifted its stake in Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Robinhood Markets during the second quarter valued at approximately $951,479,000. AGF Management Ltd. grew its stake in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after purchasing an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Robinhood Markets by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after buying an additional 131,620 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on HOOD. Bank of America boosted their price target on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. JMP Securities boosted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Barclays upped their target price on shares of Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group lifted their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Robinhood Markets has an average rating of “Moderate Buy” and an average price target of $132.65.

Insider Buying and Selling

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $145.95, for a total value of $3,648,750.00. Following the sale, the insider directly owned 540,949 shares in the company, valued at approximately $78,951,506.55. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,385,742 shares of company stock worth $403,923,453 over the last quarter. Insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Up 2.6%

Shares of NASDAQ:HOOD opened at $130.36 on Monday. The firm has a market cap of $115.85 billion, a P/E ratio of 54.09, a P/E/G ratio of 3.05 and a beta of 2.42. Robinhood Markets, Inc. has a 12 month low of $29.21 and a 12 month high of $153.86. The company’s 50-day moving average price is $130.11 and its two-hundred day moving average price is $100.33.

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

Robinhood Markets 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.