Blair William & Co. IL Invests $14.55 Million in Robinhood Markets, Inc. $HOOD

Key Points

• Blair William & Co. IL has invested approximately $14.55 million in Robinhood Markets, acquiring 155,366 shares of the company during the 2nd quarter.
• Institutional investors own 93.27% of Robinhood Markets' stock, indicating strong institutional confidence in the company.
• CEO Vladimir Tenev recently sold 750,000 shares worth over $104 million, amid significant insider selling totaling $618 million in the last three months.

Blair William & Co. IL bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 155,366 shares of the company's stock, valued at approximately $14,547,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Robinhood Markets by 8.6% in the first 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. Kingstone Capital Partners Texas LLC bought a new position in shares of Robinhood Markets in the 2nd quarter worth about $951,479,000. AGF Management Ltd. lifted its stake in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Robinhood Markets by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after purchasing an additional 131,620 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Robinhood Markets by 4.2% during the first quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock worth $169,035,000 after purchasing an additional 163,823 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $147.53, for a total value of $865,115.92. Following the transaction, the chief technology officer owned 11,952 shares in the company, valued at approximately $1,763,278.56. This trade represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681,122 shares of company stock valued at $618,215,681 in the last three months. Insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Robinhood Markets from $134.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 1st. Bank of America increased their target price on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Citizens Jmp lifted their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "mkt outperform" rating in a research note on Thursday. Finally, JMP Securities upped their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "market outperform" rating in a report on Thursday. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $118.94.

Robinhood Markets Price Performance

HOOD opened at $138.96 on Friday. Robinhood Markets, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $153.86. The firm has a market capitalization of $123.49 billion, a PE ratio of 70.54, a P/E/G ratio of 4.24 and a beta of 2.42. The company's 50-day moving average is $118.70 and its 200 day moving average is $85.80.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly 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 business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The company's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.

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