Caitong International Asset Management Co. Ltd Boosts Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Caitong International Asset Management increased its stake in Robinhood Markets by 125.9%, purchasing an additional 10,703 shares for a total of 19,201 shares, making it the firm's 23rd largest holding.
• Several analysts have raised their price targets for Robinhood, with Goldman Sachs setting a new target of $104.00 and Needham boosting theirs to $120.00, reflecting a positive outlook on the stock.
• Insiders have sold 4,644,685 shares of Robinhood in the last three months, indicating potential fluctuations in internal confidence, with 19.95% of the stock currently being owned by corporate insiders.

Caitong International Asset Management Co. Ltd grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 125.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,201 shares of the company's stock after buying an additional 10,703 shares during the quarter. Robinhood Markets comprises 0.6% of Caitong International Asset Management Co. Ltd's investment portfolio, making the stock its 23rd biggest holding. Caitong International Asset Management Co. Ltd's holdings in Robinhood Markets were worth $799,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 8.6% in 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. Newlands Management Operations LLC raised its holdings in Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after purchasing an additional 52,700 shares during the last quarter. 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 during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Robinhood Markets by 231.9% during the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock worth $195,907,000 after purchasing an additional 3,673,861 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 10,518 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $100.10, for a total transaction of $1,052,851.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Quirk sold 40,131 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total transaction of $4,202,117.01. Following the transaction, the insider directly owned 120,408 shares of the company's stock, valued at $12,607,921.68. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,644,685 shares of company stock valued at $430,085,957 in the last quarter. Insiders own 14.47% of the company's stock.

Robinhood Markets Stock Up 1.9%

Shares of NASDAQ:HOOD traded up $2.09 during midday trading on Thursday, reaching $110.71. The company's stock had a trading volume of 34,270,756 shares, compared to its average volume of 41,803,992. The firm has a market cap of $98.39 billion, a price-to-earnings ratio of 56.20, a price-to-earnings-growth ratio of 4.35 and a beta of 2.36. The business has a 50 day moving average price of $93.81 and a 200 day moving average price of $65.27. Robinhood Markets, Inc. has a 1 year low of $18.71 and a 1 year high of $117.70.

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

Wall Street Analysts Forecast Growth

HOOD has been the subject of several research reports. JMP Securities lifted their price objective on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Mizuho lifted their price objective on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Barclays lifted their price objective on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.31.

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.