Banco Santander S.A. Takes $2.57 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Banco Santander S.A. has acquired a new position in Robinhood Markets, Inc., purchasing 61,777 shares valued at approximately $2.57 million during the first quarter.
• Significant increases in holdings were also made by other hedge funds, including a 73.4% increase by American Century Companies Inc. and a 141.7% increase by Alliancebernstein L.P. in their positions in Robinhood.
• Robinhood's stock has seen analysts update their price targets, with Barclays and Mizuho setting targets of $120 as they maintain a positive outlook on the company.

Banco Santander S.A. bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 61,777 shares of the company's stock, valued at approximately $2,571,000.

A number of other hedge funds have also made changes to their positions in HOOD. American Century Companies Inc. lifted its holdings in Robinhood Markets by 73.4% in 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. Orion Portfolio Solutions LLC lifted its holdings in Robinhood Markets by 64.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,179 shares of the company's stock worth $603,000 after buying an additional 6,312 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Robinhood Markets by 43.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,505 shares of the company's stock worth $184,000 after buying an additional 1,372 shares in the last quarter. Wellington Management Group LLP acquired a new position in Robinhood Markets in the 4th quarter worth $588,000. Finally, Alliancebernstein L.P. lifted its holdings in Robinhood Markets by 141.7% in the 4th quarter. Alliancebernstein L.P. now owns 652,527 shares of the company's stock worth $24,313,000 after buying an additional 382,583 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Down 3.1%

Shares of NASDAQ:HOOD opened at $99.90 on Monday. The firm has a 50-day simple moving average of $86.92 and a 200 day simple moving average of $62.11. The company has a market cap of $88.46 billion, a PE ratio of 50.71, a P/E/G ratio of 4.59 and a beta of 2.36. Robinhood Markets, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. As a group, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays boosted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho set a $120.00 target price on shares of Robinhood Markets and gave the company an "outperform" rating in a research note on Thursday. JMP Securities upped their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday. Finally, The Goldman Sachs Group upped their target price on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the completion of the transaction, the director directly owned 7,863 shares of the company's stock, valued at $584,142.27. The trade was a 98.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares of the company's stock, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,001,690 shares of company stock valued at $255,967,852 in the last ninety days. Company insiders own 19.95% of the company's stock.

Robinhood Markets Company 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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.