Tucker Asset Management LLC Invests $536,000 in Robinhood Markets, Inc. $HOOD

Tucker Asset Management LLC acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,347 shares of the company’s stock, valued at approximately $536,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Groupe la Francaise bought a new position in shares of Robinhood Markets in the 2nd quarter worth $5,544,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at $6,918,000. California State Teachers Retirement System lifted its holdings in shares of Robinhood Markets by 9,976.4% during the 2nd quarter. California State Teachers Retirement System now owns 113,132,988 shares of the company’s stock worth $11,344,976,000 after acquiring an additional 112,010,233 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of Robinhood Markets by 4.1% during the 2nd quarter. Wedmont Private Capital now owns 16,047 shares of the company’s stock worth $1,609,000 after acquiring an additional 637 shares during the last quarter. Finally, Styrax Capital LP purchased a new position in Robinhood Markets in the second quarter worth $30,084,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Robinhood Markets in a research note on Wednesday, June 24th. Barclays dropped their price target on Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Wall Street Zen upgraded Robinhood Markets from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. The Goldman Sachs Group reduced their price objective on Robinhood Markets from $137.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Robinhood Markets from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.67.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 24,416 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $120.33, for a total value of $2,937,977.28. Following the completion of the sale, the insider owned 77,839 shares in the company, valued at approximately $9,366,366.87. The trade was a 23.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $122.43, for a total transaction of $1,224,300.00. Following the completion of the transaction, the insider owned 509,943 shares in the company, valued at $62,432,321.49. This represents a 1.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 626,283 shares of company stock worth $69,070,083 in the last 90 days. 13.48% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $122.11 on Monday. The firm has a fifty day simple moving average of $102.73 and a two-hundred day simple moving average of $88.34. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. The company has a market capitalization of $109.79 billion, a PE ratio of 53.79, a P/E/G ratio of 2.50 and a beta of 2.34.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. Research analysts expect that Robinhood Markets, Inc. will post 2.09 EPS for the current year.

Trending Headlines about Robinhood Markets

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

About Robinhood Markets

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.