Deutsche Bank AG Purchases 1,020,286 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Deutsche Bank AG increased its stake in Robinhood Markets, acquiring over 1 million shares and lifting its ownership by 137.6% to a total of approximately 1.76 million shares valued at $73.3 million.
• Recent insider trading saw significant shares sold, with insider Steven M. Quirk selling 104,887 shares for over $7.3 million and Daniel Martin Gallagher, Jr. offloading 225,000 shares worth approximately $22.5 million.
• Analysts have raised price targets for Robinhood's stock, with JMP Securities setting a new target of $130, reflecting a generally positive outlook on the company's performance.

Deutsche Bank AG grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 137.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,761,767 shares of the company's stock after buying an additional 1,020,286 shares during the quarter. Deutsche Bank AG owned 0.20% of Robinhood Markets worth $73,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. Newlands Management Operations LLC boosted its holdings in shares of 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 purchasing an additional 273,860 shares during the period. Two Sigma Advisers LP raised its stake 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 worth $398,667,000 after buying an additional 52,700 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Robinhood Markets by 231.9% during the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock worth $195,907,000 after purchasing an additional 3,673,861 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 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. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HOOD shares. JMP Securities upped their price target on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Redburn Atlantic reissued a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. The Goldman Sachs Group boosted their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Needham & Company LLC boosted their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley lifted their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $96.29.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded up $0.47 during trading hours on Tuesday, reaching $114.09. The company's stock had a trading volume of 31,456,289 shares, compared to its average volume of 41,767,672. The company's 50 day simple moving average is $92.24 and its 200 day simple moving average is $64.62. Robinhood Markets, Inc. has a one year low of $18.36 and a one year high of $117.70. The stock has a market cap of $101.39 billion, a P/E ratio of 57.91, a price-to-earnings-growth ratio of 4.37 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $104.23, for a total value of $2,605,750.00. Following the completion of the sale, the insider directly owned 566,887 shares in the company, valued at approximately $59,086,632.01. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $104.73, for a total transaction of $614,136.72. Following the completion of the sale, the chief technology officer owned 3,044 shares of the company's stock, valued at $318,798.12. The trade was a 65.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,644,685 shares of company stock valued at $430,085,957 in the last 90 days. Corporate 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.