IFM Investors Pty Ltd Increases Position in Robinhood Markets, Inc. $HOOD

Key Points

• IFM Investors Pty Ltd increased its stake in Robinhood Markets by 27.6%, acquiring an additional 29,747 shares, bringing its total holdings to 137,434 shares valued at approximately $12.87 million.
• Several analysts recently raised their price targets on Robinhood, with Needham & Company setting a new target of $120.00, marking a strong overall sentiment with a consensus rating of "Moderate Buy."
• Insiders sold a total of 5,767,855 shares valued at nearly $589 million in the last 90 days, indicating a significant decrease in insider ownership as corporate insiders now own only 14.47% of the company.

IFM Investors Pty Ltd grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 27.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,434 shares of the company's stock after acquiring an additional 29,747 shares during the quarter. IFM Investors Pty Ltd's holdings in Robinhood Markets were worth $12,868,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC increased its position in Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after purchasing an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after buying an additional 1,186 shares in the last quarter. Wellington Management Group LLP increased its holdings in Robinhood Markets by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after purchasing an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Robinhood Markets by 125.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after purchasing an additional 10,703 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in Robinhood Markets in the 1st quarter worth about $277,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the transaction, the insider directly owned 591,887 shares of the company's stock, valued at $59,170,943.39. The trade was a 27.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meyer Malka sold 1,093,288 shares of Robinhood Markets stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the transaction, the director directly owned 3,976,234 shares in the company, valued at $413,011,425.58. This represents a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,767,855 shares of company stock valued at $588,837,174 over the last 90 days. Corporate insiders own 19.95% of the company's stock.

Analyst Upgrades and Downgrades

HOOD has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Compass Point upped their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Citigroup upped their price target on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Mizuho increased their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. Finally, Piper Sandler initiated coverage on Robinhood Markets in a report on Wednesday, September 10th. They issued an "overweight" rating and a $120.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Robinhood Markets currently has an average rating of "Moderate Buy" and an average target price of $101.88.

Robinhood Markets Price Performance

Shares of NASDAQ HOOD traded up $0.10 during mid-day trading on Monday, reaching $124.88. 27,157,484 shares of the company's stock traded hands, compared to its average volume of 42,398,418. The stock has a market cap of $110.98 billion, a P/E ratio of 63.39, a PEG ratio of 4.62 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $22.05 and a 1-year high of $126.64. The business has a 50-day simple moving average of $108.40 and a 200 day simple moving average of $76.32.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million during 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 company's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share 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.