300,000 Shares in Robinhood Markets, Inc. $HOOD Bought by Styrax Capital LP

Key Points

• Styrax Capital LP acquired 300,000 Robinhood shares during the second quarter, valued at approximately $30.1 million and representing about 2% of the firm’s holdings.
• Institutional investors own 93.27% of Robinhood, with State Street, Geode Capital, Morgan Stanley, Norges Bank and Invesco among the largest holders.
• Robinhood reported stronger-than-expected quarterly results, while analysts maintained a generally positive outlook; however, insiders sold 626,283 shares worth about $69.1 million over the past 90 days.

Styrax Capital LP acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 300,000 shares of the company's stock, valued at approximately $30,084,000. Robinhood Markets makes up about 2.0% of Styrax Capital LP's holdings, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HOOD. State Street Corp boosted its stake in shares of Robinhood Markets by 2.7% in the 4th quarter. State Street Corp now owns 33,121,452 shares of the company's stock valued at $3,746,036,000 after purchasing an additional 875,297 shares in the last quarter. Geode Capital Management LLC increased its position in Robinhood Markets by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company's stock worth $2,386,944,000 after purchasing an additional 356,902 shares in the last quarter. Morgan Stanley lifted its stake in Robinhood Markets by 23.9% in the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company's stock valued at $1,208,335,000 after purchasing an additional 2,061,832 shares during the last quarter. Norges Bank bought a new position in Robinhood Markets in the 4th quarter valued at approximately $1,202,160,000. Finally, Invesco Ltd. boosted its position in Robinhood Markets by 12.7% in the fourth quarter. Invesco Ltd. now owns 6,975,556 shares of the company's stock valued at $788,935,000 after buying an additional 784,433 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Key Robinhood Markets News

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

Insider Buying and Selling

In related news, insider Steven Quirk sold 24,416 shares of the company'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 sale, the insider directly owned 77,839 shares in the company, valued at $9,366,366.87. This represents a 23.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 57,898 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $89.63, for a total transaction of $5,189,397.74. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 626,283 shares of company stock valued at $69,070,083 over the last 90 days. 13.48% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $122.11 on Friday. The stock has a market cap of $109.79 billion, a price-to-earnings ratio of 53.79, a P/E/G ratio of 2.50 and a beta of 2.34. Robinhood Markets, Inc. has a twelve month low of $63.51 and a twelve month high of $153.86. The company's fifty day moving average is $102.73 and its 200 day moving average is $88.26. 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 (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $0.42 EPS. The business's quarterly revenue was up 32.5% compared to the same quarter last year. Sell-side analysts forecast that Robinhood Markets, Inc. will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HOOD shares. Zacks Research upgraded shares of Robinhood Markets from a "hold" rating to a "strong-buy" rating in a report on Thursday. Loop Capital set a $105.00 price objective on Robinhood Markets in a research report on Thursday, July 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 target price (up from $135.00) on shares of Robinhood Markets in a report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Finally, Cantor Fitzgerald cut their price target on Robinhood Markets from $130.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average price target of $122.67.

Robinhood Markets Profile

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.

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