Candriam S.C.A. Invests $1.89 Million in Robinhood Markets, Inc. $HOOD

Key Points

• Candriam S.C.A. has made a new investment of approximately $1.89 million in Robinhood Markets by purchasing 45,342 shares during the first quarter.
• Robinhood Markets recently reported an earnings per share (EPS) of $0.42 for the quarter, exceeding the estimated $0.30, with revenue increasing by 45% year-over-year to $989 million.
• Several major investors have significantly increased their stakes in Robinhood, with Deutsche Bank AG raising its position by 137.6%, now owning approximately 1.76 million shares.

Candriam S.C.A. acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 45,342 shares of the company's stock, valued at approximately $1,887,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HOOD. GeoWealth Management LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $53,000. MetLife Investment Management LLC increased its stake in shares of Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after acquiring an additional 171 shares during the period. MML Investors Services LLC increased its stake in shares of Robinhood Markets by 4.3% in the fourth quarter. MML Investors Services LLC now owns 54,052 shares of the company's stock worth $2,014,000 after acquiring an additional 2,213 shares during the period. Stifel Financial Corp increased its stake in shares of Robinhood Markets by 646.9% in the fourth quarter. Stifel Financial Corp now owns 196,578 shares of the company's stock worth $7,324,000 after acquiring an additional 170,259 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in 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 period. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Trading Down 4.8%

HOOD traded down $5.21 during midday trading on Wednesday, hitting $103.59. 25,824,187 shares of the company traded hands, compared to its average volume of 41,521,965. The company has a market capitalization of $92.06 billion, a price-to-earnings ratio of 52.58, a PEG ratio of 3.96 and a beta of 2.36. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70. The business has a 50 day simple moving average of $100.19 and a two-hundred day simple moving average of $68.95.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company's revenue was up 45.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

HOOD has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Morgan Stanley raised their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Barclays raised their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report 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 report on Monday, June 9th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider directly owned 591,887 shares in the company, valued at approximately $59,170,943.39. This represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,644,685 shares of company stock valued at $448,881,884. Corporate insiders own 19.95% of the company's stock.

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.