Caxton Associates LLP Purchases New Position in Robinhood Markets, Inc. $HOOD

Key Points

• Caxton Associates LLP has made a new investment of $2.69 million in Robinhood Markets, acquiring 64,582 shares.
• Robinhood's stock has a market capitalization of $89.98 billion and experienced a 1.6% decrease recently.
• Insider sales were notable, with significant transactions including a director selling over 1 million shares valued at over $113 million.

Caxton Associates LLP purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,582 shares of the company's stock, valued at approximately $2,688,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HOOD. The Manufacturers Life Insurance Company raised its holdings in shares of Robinhood Markets by 11.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 44,296 shares of the company's stock worth $1,650,000 after buying an additional 4,556 shares during the period. Comerica Bank raised its holdings in shares of Robinhood Markets by 167.3% in the fourth quarter. Comerica Bank now owns 11,894 shares of the company's stock worth $443,000 after buying an additional 7,444 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Robinhood Markets by 5.6% in the fourth quarter. Ameriprise Financial Inc. now owns 1,381,719 shares of the company's stock worth $51,483,000 after buying an additional 73,829 shares during the period. Baird Financial Group Inc. bought a new position in Robinhood Markets in the fourth quarter worth approximately $305,000. Finally, Captrust Financial Advisors grew its stake in Robinhood Markets by 142.0% in the fourth quarter. Captrust Financial Advisors now owns 45,846 shares of the company's stock worth $1,708,000 after purchasing an additional 26,904 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on HOOD shares. Redburn Atlantic reissued a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Keefe, Bruyette & Woods increased their price objective on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Needham & Company LLC increased their price objective on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Piper Sandler started coverage on Robinhood Markets in a research note on Wednesday. They issued an "overweight" rating and a $120.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.88.

Insider Buying and Selling

In related news, Director Meyer Malka sold 1,093,288 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. This trade represents a 21.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company's stock, valued at $59,170,943.39. This trade represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,355,381 shares of company stock worth $539,335,586 over the last three months. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Price Performance

Robinhood Markets stock traded down $1.04 during mid-day trading on Wednesday, reaching $117.46. 46,542,523 shares of the company traded hands, compared to its average volume of 41,780,621. Robinhood Markets, Inc. has a fifty-two week low of $19.54 and a fifty-two week high of $123.44. The firm's fifty day moving average is $104.71 and its two-hundred day moving average is $72.20. The company has a market capitalization of $104.38 billion, a price-to-earnings ratio of 59.62, a price-to-earnings-growth ratio of 4.30 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its 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. The company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

About Robinhood Markets

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.