Intech Investment Management LLC Raises Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Intech Investment Management LLC significantly increased its ownership in Robinhood Markets by 187.3% during the first quarter, holding 313,769 shares valued at approximately $13 million.
• Several analysts have raised their price targets on Robinhood Markets, with Morgan Stanley increasing its target from $43 to $110 and Needham & Company from $71 to $120.
• Insider trading activity included a major sale of shares by Steven M. Quirk and Baiju Bhatt, with a total of over 5.3 million shares sold in the past ninety days.

Intech Investment Management LLC boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 187.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 313,769 shares of the company's stock after buying an additional 204,551 shares during the quarter. Intech Investment Management LLC's holdings in Robinhood Markets were worth $13,059,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC increased its holdings in Robinhood Markets by 6.4% during the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock valued at $2,092,000 after buying an additional 3,032 shares during the period. TD Private Client Wealth LLC increased its holdings in Robinhood Markets by 184.4% during the first 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 during the period. Wellington Management Group LLP increased its holdings in Robinhood Markets by 3.1% during the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock valued at $677,000 after buying an additional 486 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Robinhood Markets by 125.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock valued at $799,000 after buying an additional 10,703 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new position in Robinhood Markets during the first quarter valued at approximately $277,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on HOOD. Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Morgan Stanley lifted their price target 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. Needham & Company LLC lifted their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Barclays lifted their price target on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Piper Sandler started coverage on shares of Robinhood Markets in a report on Wednesday. They issued an "overweight" rating and a $120.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $101.88.

Insider Activity

In other news, insider Steven M. Quirk sold 60,113 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company's stock, valued at $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $109.39, for a total transaction of $45,761,993.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,355,381 shares of company stock valued at $539,335,586. 14.47% of the stock is owned by corporate insiders.

Robinhood Markets Price Performance

Shares of HOOD opened at $117.46 on Thursday. The firm has a market capitalization of $104.38 billion, a PE ratio of 59.62, a price-to-earnings-growth ratio of 4.34 and a beta of 2.36. Robinhood Markets, Inc. has a 1-year low of $19.54 and a 1-year high of $123.44. The company's fifty day moving average price is $105.10 and its 200-day moving average price is $72.52.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced 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 firm had revenue of $989.00 million for 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%. The business's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. As a group, research analysts anticipate 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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