Boundless Plain Holdings Ltd Invests $7.85 Million in Robinhood Markets, Inc. $HOOD

Key Points

• Boundless Plain Holdings Ltd disclosed a new fourth-quarter stake in Robinhood Markets, buying 69,382 shares worth about $7.85 million. The position represents roughly 2.5% of its portfolio and is its 9th-largest holding.
• Institutional interest in Robinhood remains high, with several hedge funds and asset managers adding or initiating positions; overall, institutions own 93.27% of the stock.
• Robinhood shares were down 3% as the company reported quarterly earnings that missed analyst estimates on both EPS and revenue, while insiders also disclosed notable stock sales in recent weeks.

Boundless Plain Holdings Ltd bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 69,382 shares of the company's stock, valued at approximately $7,847,000. Robinhood Markets makes up about 2.5% of Boundless Plain Holdings Ltd's holdings, making the stock its 9th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HOOD. Caisse Des Depots ET Consignations purchased a new position in shares of Robinhood Markets during the third quarter valued at approximately $3,984,000. Aberdeen Group plc raised its holdings in shares of Robinhood Markets by 565.1% during the third quarter. Aberdeen Group plc now owns 185,538 shares of the company's stock valued at $26,565,000 after purchasing an additional 157,643 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Robinhood Markets during the third quarter valued at approximately $322,823,000. NEOS Investment Management LLC purchased a new position in shares of Robinhood Markets during the third quarter valued at approximately $11,994,000. Finally, New York Life Investment Management LLC purchased a new position in shares of Robinhood Markets during the third quarter valued at approximately $14,989,000. Institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HOOD shares. Loop Capital set a $130.00 price objective on shares of Robinhood Markets in a report on Monday, February 9th. Morgan Stanley decreased their price objective on shares of Robinhood Markets from $147.00 to $95.00 and set an "equal weight" rating for the company in a report on Friday, April 10th. Mizuho boosted their price objective on shares of Robinhood Markets from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Keefe, Bruyette & Woods decreased their price objective on shares of Robinhood Markets from $75.00 to $65.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Finally, Argus decreased their price objective on shares of Robinhood Markets from $102.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average price target of $107.88.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,835 shares of the company's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $83.92, for a total value of $489,673.20. Following the completion of the transaction, the chief technology officer directly owned 12,171 shares in the company, valued at $1,021,390.32. This represents a 32.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Baiju Bhatt sold 67,422 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.38, for a total transaction of $5,082,270.36. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 560,765 shares of company stock valued at $40,946,840 in the last quarter. Insiders own 14.47% of the company's stock.

Robinhood Markets Trading Down 3.0%

Shares of HOOD stock opened at $73.64 on Friday. Robinhood Markets, Inc. has a 12 month low of $62.63 and a 12 month high of $153.86. The stock has a market cap of $66.31 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.39 and a beta of 2.29. The company has a 50 day simple moving average of $76.11 and a two-hundred day simple moving average of $96.47.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Robinhood Markets had a net margin of 41.12% and a return on equity of 21.39%. The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The firm's quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.95 earnings per share for the current year.

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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