8,420 Shares in Robinhood Markets, Inc. $HOOD Bought by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA acquired 8,420 shares of Robinhood Markets, Inc., valued at approximately $324,000, during the first quarter of the year.
• Robinhood Markets reported earnings of $0.42 per share, exceeding expectations, with revenues of $989 million for the quarter, up 45% year-over-year.
• Hedge funds and institutional investors own 93.27% of Robinhood's stock, with ongoing adjustments in holdings from several investment firms, indicating strong institutional interest.

Banque Transatlantique SA acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 8,420 shares of the company's stock, valued at approximately $324,000.

Several other hedge funds have also recently bought and sold shares of HOOD. Vanguard Group Inc. increased its stake in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the period. AGF Management Ltd. raised its holdings in Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Wealthquest Corp bought a new stake in Robinhood Markets during the first quarter worth approximately $156,193,000. Southpoint Capital Advisors LP bought a new stake in Robinhood Markets during the fourth quarter worth approximately $130,410,000. Finally, Polar Capital Holdings Plc bought a new stake in Robinhood Markets during the fourth quarter worth approximately $125,252,000. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Baiju Bhatt sold 1,568,421 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Insiders sold a total of 5,767,854 shares of company stock valued at $569,828,413 in the last three months. 14.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on HOOD. Morgan Stanley boosted their target price on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Cantor Fitzgerald lifted their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. JMP Securities lifted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Mizuho lifted their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC lifted their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Trading Down 1.6%

NASDAQ:HOOD traded down $1.66 during trading hours on Friday, hitting $101.25. 60,005,141 shares of the stock traded hands, compared to its average volume of 34,243,404. The firm has a 50 day moving average price of $103.72 and a 200 day moving average price of $71.31. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70. The firm has a market cap of $89.98 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 3.71 and a beta of 2.36.

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

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.