Evergreen Capital Management LLC Has $1.72 Million Stock Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Evergreen Capital Management LLC increased its investment in Robinhood Markets by 24.9%, holding 41,291 shares valued at approximately $1.72 million.
• Several institutional investors, including Vanguard Group Inc. and AGF Management Ltd., have also significantly increased their stakes in Robinhood, contributing to a total institutional ownership of 93.27%.
• Robinhood reported earnings of $0.42 per share, exceeding expectations and achieving a revenue increase of 45% year-over-year, totaling $989 million for the quarter.

Evergreen Capital Management LLC raised its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 24.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,291 shares of the company's stock after purchasing an additional 8,232 shares during the quarter. Evergreen Capital Management LLC's holdings in Robinhood Markets were worth $1,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Robinhood Markets by 8.6% during the 1st 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 lifted 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 in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Robinhood Markets by 0.5% in the fourth 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. AGF Management Ltd. lifted its holdings in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Robinhood Markets by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after purchasing an additional 131,620 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 40,131 shares of Robinhood Markets stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total transaction of $4,202,117.01. Following the sale, the insider directly owned 120,408 shares of the company's stock, valued at $12,607,921.68. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $104.23, for a total value of $2,605,750.00. Following the sale, the insider directly owned 566,887 shares in the company, valued at approximately $59,086,632.01. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,688,606 shares of company stock valued at $561,670,429 in the last quarter. Insiders own 19.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HOOD. Needham & Company LLC increased their target price on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Barclays increased their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Cantor Fitzgerald increased their price objective on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Mizuho increased their price objective on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, KeyCorp increased their price objective on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Eleven 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 stock. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $0.02 during midday trading on Wednesday, hitting $100.82. The company's stock had a trading volume of 23,688,871 shares, compared to its average volume of 41,257,203. The stock has a market capitalization of $89.60 billion, a price-to-earnings ratio of 51.18, a PEG ratio of 3.81 and a beta of 2.36. The stock's 50 day simple moving average is $102.62 and its 200 day simple moving average is $70.48. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70.

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

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.