Glaxis Capital Management LLC Acquires Shares of 10,000 Robinhood Markets, Inc. $HOOD

by · The Cerbat Gem

Glaxis Capital Management LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $936,000. Robinhood Markets accounts for about 1.2% of Glaxis Capital Management LLC’s portfolio, making the stock its 26th biggest position.

Other large investors have also recently made changes to their positions in the company. WCM Investment Management LLC lifted its stake in Robinhood Markets by 3,615.7% in 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 last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Robinhood Markets in the second quarter worth approximately $951,479,000. Vanguard Group Inc. lifted its stake in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the last quarter. AGF Management Ltd. boosted its holdings in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after acquiring an additional 4,255,862 shares during the period. Finally, Wealthquest Corp bought a new stake in shares of Robinhood Markets during the first quarter worth $156,193,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the completion of the sale, the insider owned 94,454 shares of the company’s stock, valued at $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,297,404 shares of company stock valued at $529,026,559 in the last three months. 14.47% of the stock is currently owned by insiders.

Robinhood Markets Stock Up 0.8%

Robinhood Markets stock opened at $122.50 on Friday. The firm has a market cap of $110.15 billion, a P/E ratio of 50.83, a P/E/G ratio of 2.78 and a beta of 2.42. The business has a fifty day moving average of $132.81 and a two-hundred day moving average of $102.40. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86.

Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business’s revenue was up 100.0% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. Equities analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

HOOD has been the topic of a number of research analyst reports. Zacks Research cut shares of Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Citigroup upped their target price on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Morgan Stanley raised their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. JMP Securities boosted their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. 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 company’s stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $132.65.

Read Our Latest Stock Analysis on Robinhood Markets

Robinhood Markets Company Profile

(Free Report)

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.

Further Reading

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