Credit Agricole S A Decreases Position in Robinhood Markets, Inc. $HOOD

Key Points

• Credit Agricole S A reduced its stake in Robinhood Markets by 17.9%, now holding 33,337 shares valued at approximately $1.39 million.
• Robinhood reported a quarterly earnings per share of $0.42, exceeding analysts' expectations of $0.30, with revenues up 45% year-over-year to $989 million.
• Analysts have raised price targets for Robinhood, with ratings indicating a consensus of "Moderate Buy" and a target price of approximately $100.31.

Credit Agricole S A trimmed its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 17.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,337 shares of the company's stock after selling 7,286 shares during the quarter. Credit Agricole S A's holdings in Robinhood Markets were worth $1,385,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HOOD. MetLife Investment Management LLC boosted its position in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares in the last quarter. MML Investors Services LLC boosted its position in Robinhood Markets by 4.3% during the fourth quarter. MML Investors Services LLC now owns 54,052 shares of the company's stock worth $2,014,000 after purchasing an additional 2,213 shares in the last quarter. Stifel Financial Corp boosted its position in Robinhood Markets by 646.9% during the fourth quarter. Stifel Financial Corp now owns 196,578 shares of the company's stock worth $7,324,000 after purchasing an additional 170,259 shares in the last quarter. Price T Rowe Associates Inc. MD boosted 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 worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Finally, MGO One Seven LLC purchased a new stake in Robinhood Markets during the fourth quarter worth $276,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD opened at $109.32 on Monday. Robinhood Markets, Inc. has a 1-year low of $18.71 and a 1-year high of $117.70. The business has a 50-day moving average of $98.88 and a 200-day moving average of $68.30. The company has a market capitalization of $97.15 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 4.01 and a beta of 2.36.

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

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research analyst reports. Barclays boosted their target price on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. The Goldman Sachs Group upped their price objective on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Morgan Stanley upped their price objective on Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, JMP Securities upped their price objective on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $100.31.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,644,685 shares of company stock worth $448,881,884. 19.95% of the stock is currently owned by corporate insiders.

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.

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