Banque Cantonale Vaudoise Purchases New Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Banque Cantonale Vaudoise acquired 10,691 shares of Robinhood Markets, valued at approximately $445,000, in the first quarter of 2023.
• Robinhood's recent earnings report showed a 45.0% increase in quarterly revenue year-over-year, with an earnings per share (EPS) of $0.42, beating analysts' expectations.
• Insider selling included CEO Vladimir Tenev selling 750,000 shares for about $69.95 million, while a notable 93.27% of Robinhood's stock is owned by institutional investors.

Banque Cantonale Vaudoise purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,691 shares of the company's stock, valued at approximately $445,000.

A number of other large investors have also recently bought and sold shares of HOOD. American Century Companies Inc. raised its stake in shares of Robinhood Markets by 73.4% during the 4th quarter. American Century Companies Inc. now owns 90,922 shares of the company's stock worth $3,388,000 after buying an additional 38,495 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Robinhood Markets by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 191,105 shares of the company's stock valued at $7,121,000 after acquiring an additional 3,992 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Robinhood Markets by 64.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 16,179 shares of the company's stock valued at $603,000 after acquiring an additional 6,312 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Robinhood Markets in the fourth quarter valued at $25,491,000. Finally, Schroder Investment Management Group acquired a new stake in Robinhood Markets in the fourth quarter valued at $8,202,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HOOD shares. KeyCorp upped their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Barclays boosted their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday. Compass Point boosted their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Needham & Company LLC boosted their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price target on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.29.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $93.88, for a total transaction of $2,347,000.00. Following the completion of the sale, the insider directly owned 816,887 shares of the company's stock, valued at approximately $76,689,351.56. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the sale, the insider directly owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,026,690 shares of company stock worth $257,160,102 in the last quarter. Insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

Robinhood Markets stock traded down $3.15 during trading on Friday, reaching $99.90. 76,566,177 shares of the company's stock were exchanged, compared to its average volume of 43,469,824. The company's 50-day moving average is $86.92 and its two-hundred day moving average is $62.00. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $113.44. The firm has a market cap of $88.46 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 5.03 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.69%. The firm had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period in the prior year, the company earned $0.21 EPS. The firm's revenue was up 45.0% on a year-over-year basis. Analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.