Ieq Capital LLC Raises Position in Robinhood Markets, Inc. $HOOD

Key Points

• Ieq Capital LLC increased its stake in Robinhood Markets, Inc. by 41.2%, owning a total of 663,825 shares valued at approximately $27.6 million as of the end of the first quarter.
• Insider sales have been significant, with Director Baiju Bhatt selling 418,338 shares for nearly $45.8 million recently, while insiders have sold over 4.6 million shares worth around $448.9 million in the past ninety days.
• Analysts have raised their price targets for Robinhood Markets, with estimates now ranging from $47.00 to $120.00, reflecting an overall consensus rating of "Moderate Buy".

Ieq Capital LLC grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 41.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 663,825 shares of the company's stock after purchasing an additional 193,852 shares during the period. Ieq Capital LLC owned about 0.07% of Robinhood Markets worth $27,628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bank of Hawaii increased its holdings in shares of Robinhood Markets by 144.7% in the 1st quarter. Bank of Hawaii now owns 36,853 shares of the company's stock worth $1,534,000 after purchasing an additional 21,791 shares in the last quarter. Comerica Bank grew its holdings in shares of Robinhood Markets by 792.7% in the first quarter. Comerica Bank now owns 106,180 shares of the company's stock worth $4,419,000 after acquiring an additional 94,286 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Robinhood Markets by 2.3% in the first quarter. MetLife Investment Management LLC now owns 12,082 shares of the company's stock worth $503,000 after acquiring an additional 276 shares during the period. Freedom Investment Management Inc. bought a new stake in shares of Robinhood Markets in the first quarter worth $215,000. Finally, Synovus Financial Corp bought a new stake in shares of Robinhood Markets in the first quarter worth $534,000. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 40,131 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total value of $4,202,117.01. Following the sale, the insider directly owned 120,408 shares in the company, valued at approximately $12,607,921.68. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $104.73, for a total value of $614,136.72. Following the completion of the sale, the chief technology officer owned 3,044 shares in the company, valued at $318,798.12. This represents a 65.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,644,685 shares of company stock valued at $448,881,884 in the last ninety days. Company insiders own 14.47% of the company's stock.

Robinhood Markets Trading Up 0.7%

Shares of NASDAQ:HOOD traded up $0.77 during mid-day trading on Thursday, reaching $103.69. The stock had a trading volume of 25,978,086 shares, compared to its average volume of 41,665,436. The company has a market cap of $92.15 billion, a P/E ratio of 52.63, a price-to-earnings-growth ratio of 3.77 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $18.71 and a 1 year high of $117.70. The business's 50 day moving average price is $101.18 and its 200 day moving average price is $69.51.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping 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 return on equity of 17.48% and a net margin of 50.13%.The firm's revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Citigroup lifted their price objective on Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Needham & Company LLC boosted their price target on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Compass Point boosted their price target on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a report on Friday, June 27th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and an average price target of $100.31.

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.