Foundations Investment Advisors LLC Makes New Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Foundations Investment Advisors LLC acquired a new position in Robinhood Markets, purchasing 377,857 shares valued at approximately $15.7 million during the first quarter.
• Multiple institutional investors increased their stakes in Robinhood, with Whipplewood Advisors LLC's position seeing a boost of 564.4% in the same quarter.
• Robinhood's recent earnings missed analysts' expectations, reporting $0.37 EPS against a consensus of $0.41, despite a revenue increase of 50% year-over-year.

Foundations Investment Advisors LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 377,857 shares of the company's stock, valued at approximately $15,726,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HOOD. American Century Companies Inc. increased its position in shares of Robinhood Markets by 73.4% during the fourth quarter. American Century Companies Inc. now owns 90,922 shares of the company's stock valued at $3,388,000 after buying an additional 38,495 shares during the period. Korea Investment CORP grew its holdings in Robinhood Markets by 335.4% in the fourth quarter. Korea Investment CORP now owns 385,216 shares of the company's stock worth $14,353,000 after purchasing an additional 296,740 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Robinhood Markets by 17.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 609,417 shares of the company's stock worth $25,199,000 after purchasing an additional 89,632 shares during the period. WINTON GROUP Ltd purchased a new stake in Robinhood Markets in the fourth quarter worth about $477,000. Finally, Loomis Sayles & Co. L P purchased a new stake in Robinhood Markets in the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Robinhood Markets stock traded down $2.40 during midday trading on Thursday, reaching $103.70. 46,980,536 shares of the company traded hands, compared to its average volume of 41,610,332. The firm has a market capitalization of $91.82 billion, a price-to-earnings ratio of 58.87, a price-to-earnings-growth ratio of 5.26 and a beta of 2.36. The business has a 50 day moving average of $85.42 and a two-hundred day moving average of $61.05. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $113.44.

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. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,026,690 shares of company stock worth $257,160,102 over the last quarter. Company insiders own 14.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HOOD shares. Morgan Stanley upped their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. JMP Securities upped their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Citigroup upped their price objective on shares of Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Finally, Mizuho set a $120.00 price target on shares of Robinhood Markets in a report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Robinhood Markets presently has an average rating of "Moderate Buy" and a consensus price target of $94.06.

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.