Bank of Hawaii Grows Position in Robinhood Markets, Inc. $HOOD

Key Points

• Bank of Hawaii has increased its holdings in Robinhood Markets, Inc. by 144.7% in the first quarter, now owning 36,853 shares valued at approximately $1.53 million.
• Robinhood's stock experienced a rise of 2.8%, with a market cap of $97.15 billion and a price-to-earnings ratio of 55.49.
• Institutional investors own 93.27% of Robinhood's stock, reflecting increasing confidence in the company's performance among hedge funds and other organizations.

Bank of Hawaii lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 144.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 36,853 shares of the company's stock after purchasing an additional 21,791 shares during the period. Bank of Hawaii's holdings in Robinhood Markets were worth $1,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. AGF Management Ltd. lifted its position in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares during the last quarter. Wealthquest Corp bought a new stake in shares of Robinhood Markets in the 1st quarter valued at about $156,193,000. Finally, AQR Capital Management LLC grew its position in shares of Robinhood Markets by 231.9% in the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock worth $195,907,000 after buying an additional 3,673,861 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Up 2.8%

Shares of NASDAQ:HOOD opened at $109.32 on Monday. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70. The stock has a market cap of $97.15 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 4.01 and a beta of 2.36. The business has a 50-day moving average price of $98.88 and a 200-day moving average price of $68.30.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HOOD. Mizuho lifted their price target on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Compass Point upped their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. JMP Securities increased their price target on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Finally, Redburn Atlantic restated a "sell" rating and set a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $100.31.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. This trade represents a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. Insiders have sold 4,644,685 shares of company stock worth $448,881,884 in the last 90 days. 19.95% of the stock is currently owned by company insiders.

About Robinhood Markets

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.

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