Capital Impact Advisors LLC Acquires New Position in Robinhood Markets, Inc. $HOOD

Key Points

• Capital Impact Advisors LLC has acquired a new stake in Robinhood Markets, purchasing 218,964 shares valued at approximately $9.1 million, making Robinhood its 10th largest holding.
• Robinhood experienced a significant increase in institutional investment, with over 93% of its stock owned by institutional investors and hedge funds.
• Equities analysts have provided optimistic target price increases for Robinhood, with average expectations reaching $101.88 and a consensus rating of "Moderate Buy."

Capital Impact Advisors LLC acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 218,964 shares of the company's stock, valued at approximately $9,113,000. Robinhood Markets accounts for 3.5% of Capital Impact Advisors LLC's holdings, making the stock its 10th largest holding.

Several other large investors have also bought and sold shares of the business. 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. Newlands Management Operations LLC lifted its holdings in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after buying an additional 273,860 shares during the period. Two Sigma Advisers LP lifted its holdings in Robinhood Markets by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after buying an additional 52,700 shares during the period. AGF Management Ltd. lifted its holdings in Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock worth $201,913,000 after purchasing an additional 131,620 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Compass Point increased their target price on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Citigroup increased their target price on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods increased their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Morgan Stanley increased their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, JMP Securities increased their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $101.88.

Robinhood Markets Stock Up 1.0%

Shares of HOOD stock opened at $118.50 on Wednesday. The company has a market capitalization of $105.31 billion, a price-to-earnings ratio of 60.15, a P/E/G ratio of 4.30 and a beta of 2.36. Robinhood Markets, Inc. has a 12-month low of $18.83 and a 12-month high of $118.70. The firm has a fifty day moving average of $104.71 and a 200-day moving average of $72.20.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 net margin of 50.13% and a return on equity of 17.48%. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insiders Place Their Bets

In related news, insider Steven M. Quirk sold 92,257 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the transaction, the insider owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. This trade represents a 40.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 5,355,381 shares of company stock valued at $539,335,586 in the last quarter. Company 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.

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