Gulf International Bank UK Ltd Sells 8,353 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Robinhood Markets by 21.3%, selling 8,353 shares and retaining 30,879 shares valued at approximately $1.29 million.
• Analysts have been optimistic about Robinhood, with multiple firms increasing their price targets, notably JMP Securities raising it from $125.00 to $130.00 and Mizuho from $99.00 to $120.00.
• Insider selling includes CEO Vladimir Tenev disposing of 385,485 shares for over $39 million, while *insiders* collectively sold around 4.64 million shares worth approximately $430 million in the last three months.

Gulf International Bank UK Ltd decreased its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,879 shares of the company's stock after selling 8,353 shares during the period. Gulf International Bank UK Ltd's holdings in Robinhood Markets were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its stake in shares of Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock valued at $76,000 after buying an additional 1,186 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at $277,000. Burns Matteson Capital Management LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at $495,000. Deutsche Bank AG lifted its stake in shares of Robinhood Markets by 137.6% during the 1st quarter. Deutsche Bank AG now owns 1,761,767 shares of the company's stock valued at $73,325,000 after buying an additional 1,020,286 shares in the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at $2,177,000. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HOOD. JMP Securities lifted their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Cantor Fitzgerald boosted their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group boosted their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Mizuho boosted their price target on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Insider Activity

In related news, CEO Vladimir Tenev sold 385,485 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total transaction of $39,280,921.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Baiju Bhatt sold 10,518 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $100.10, for a total transaction of $1,052,851.80. The disclosure for this sale can be found here. In the last three months, insiders sold 4,644,685 shares of company stock worth $430,085,957. 14.47% of the stock is owned by insiders.

Robinhood Markets Trading Up 3.1%

Shares of NASDAQ HOOD opened at $114.17 on Friday. The firm's 50-day moving average price is $95.36 and its 200-day moving average price is $66.15. The stock has a market capitalization of $101.46 billion, a price-to-earnings ratio of 57.95, a P/E/G ratio of 4.22 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.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its 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 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%. The business's revenue was up 45.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal 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.

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