Comerica Bank Has $4.42 Million Position in Robinhood Markets, Inc. $HOOD

Key Points

• Comerica Bank increased its ownership in Robinhood Markets, Inc. by 792.7% in Q1, now holding 106,180 shares valued at approximately $4.4 million.
• Robinhood reported strong earnings with an EPS of $0.42, exceeding expectations, and a revenue of $989 million, a 45% year-over-year increase.
• Analysts have raised price targets for Robinhood, with eleven giving it a "Buy" rating and a consensus target price of $100.31.

Comerica Bank grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 792.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,180 shares of the company's stock after purchasing an additional 94,286 shares during the quarter. Comerica Bank's holdings in Robinhood Markets were worth $4,419,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HOOD. MetLife Investment Management LLC increased its position in 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 buying an additional 171 shares during the period. Hemington Wealth Management increased its holdings in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares during the period. Farther Finance Advisors LLC lifted its position in Robinhood Markets by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after purchasing an additional 265 shares during the last quarter. Allworth Financial LP boosted its stake in Robinhood Markets by 23.4% during the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company's stock valued at $58,000 after purchasing an additional 266 shares during the period. Finally, HighPoint Advisor Group LLC grew its position in Robinhood Markets by 0.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after purchasing an additional 272 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HOOD. JMP Securities increased their price target on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Piper Sandler increased their target price 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. Keefe, Bruyette & Woods boosted their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Mizuho boosted their target price on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Stock Up 0.3%

NASDAQ:HOOD traded up $0.34 during trading hours on Monday, reaching $104.03. 22,092,111 shares of the company's stock were exchanged, compared to its average volume of 37,341,716. The company has a market capitalization of $92.45 billion, a P/E ratio of 52.81, a price-to-earnings-growth ratio of 3.81 and a beta of 2.36. Robinhood Markets, Inc. has a 12 month low of $18.71 and a 12 month high of $117.70. The business's 50-day simple moving average is $101.69 and its two-hundred day simple moving average is $70.00.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating 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 company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The company's quarterly revenue was up 45.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the sale, the insider directly owned 228,621 shares of the company's stock, valued at $16,035,476.94. The trade was a 31.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,818,493 shares of company stock valued at $570,818,204. Company insiders own 19.95% of the company's stock.

Robinhood Markets 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.