Cary Street Partners Financial LLC Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Cary Street Partners Financial LLC invested approximately $1.85 million in Robinhood Markets, acquiring 44,436 shares during the first quarter.
• Insiders of Robinhood sold a total of 4,830,629 shares worth around $438.93 million in the last three months, indicating significant insider activity involving the stock.
• Analysts have shown optimism for Robinhood, with multiple brokerages raising their price targets, including KeyCorp which increased the target from $60 to $110.

Cary Street Partners Financial LLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 44,436 shares of the company's stock, valued at approximately $1,849,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Newlands Management Operations LLC boosted its stake in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after purchasing an additional 273,860 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Robinhood Markets by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after purchasing an additional 52,700 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Robinhood Markets by 231.9% in the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after purchasing an additional 3,673,861 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Robinhood Markets by 27.1% in the 4th quarter. Northern Trust Corp now owns 3,897,575 shares of the company's stock valued at $145,224,000 after purchasing an additional 830,703 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Robinhood Markets stock traded up $5.58 during trading hours on Thursday, reaching $111.23. 44,572,928 shares of the company's stock traded hands, compared to its average volume of 45,380,568. Robinhood Markets, Inc. has a fifty-two week low of $16.68 and a fifty-two week high of $113.44. The firm has a market capitalization of $98.49 billion, a price-to-earnings ratio of 56.46, a PEG ratio of 4.03 and a beta of 2.36. The firm's 50 day moving average is $90.33 and its 200-day moving average is $63.55.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its 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. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the company posted $0.21 EPS. The company's revenue was up 45.0% compared to the same quarter last year. Analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

HOOD has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Citigroup upped their price target on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.29.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company'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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,870,760 shares of company stock valued at $443,132,553. 14.47% of the stock is currently owned by company insiders.

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.