Hsbc Holdings PLC Acquires 284,192 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Hsbc Holdings PLC boosted its stake in Robinhood Markets by 126.2% in Q1, owning approximately 509,297 shares worth $21.1 million, indicating strong institutional interest in the company.
• CEO Vladimir Tenev sold 750,000 shares of Robinhood stock for nearly $70 million, highlighting significant insider activity; overall, insiders sold shares valued at $448.9 million last quarter.
• Robinhood Markets reported a 45% year-over-year increase in revenue for the latest quarter, achieving $989 million, and beat analysts' earnings expectations by 40%, showcasing solid financial performance.

Hsbc Holdings PLC boosted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 126.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 509,297 shares of the company's stock after buying an additional 284,192 shares during the period. Hsbc Holdings PLC owned about 0.06% of Robinhood Markets worth $21,113,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 5,874,701 shares during the period. AGF Management Ltd. grew its position in Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Robinhood Markets by 335.6% during the 4th 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. Wealthquest Corp acquired a new stake in Robinhood Markets during the 1st quarter valued at $156,193,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Robinhood Markets by 231.9% in the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after purchasing an additional 3,673,861 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Up 2.8%

HOOD stock traded up $3.02 during trading hours on Friday, hitting $109.32. The company's stock had a trading volume of 39,820,141 shares, compared to its average volume of 42,079,340. The stock has a 50 day moving average price of $98.88 and a two-hundred day moving average price of $68.20. Robinhood Markets, Inc. has a 12 month low of $18.71 and a 12 month high of $117.70. The company has a market capitalization of $97.15 billion, a PE ratio of 72.88, a price-to-earnings-growth ratio of 4.01 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data 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 business had revenue of $989.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business's stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 418,338 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $109.39, for a total value of $45,761,993.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,644,685 shares of company stock valued at $448,881,884. 19.95% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho lifted their price target on Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Compass Point upped their target price on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Barclays increased their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.31.

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.