Integrated Wealth Concepts LLC Acquires 7,245 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Integrated Wealth Concepts LLC significantly increased its holdings in Robinhood Markets by 62.8%, acquiring an additional 7,245 shares, bringing its total to 18,780 shares worth approximately $782,000.
• Robinhood's stock has recently experienced a 2.3% decline and is currently priced at $115.03, with a market cap of over $102 billion.
• Several major investors, including Vanguard Group Inc. and AGF Management Ltd., have also boosted their stakes in Robinhood, reflecting strong institutional interest in the company.

Integrated Wealth Concepts LLC increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 62.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,780 shares of the company's stock after purchasing an additional 7,245 shares during the period. Integrated Wealth Concepts LLC's holdings in Robinhood Markets were worth $782,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Robinhood Markets by 8.6% in the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Robinhood Markets by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after purchasing an additional 52,700 shares in the last quarter. AGF Management Ltd. boosted its holdings in Robinhood Markets by 286.0% in the first 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. Charles Schwab Investment Management Inc. boosted its holdings in Robinhood Markets by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after acquiring an additional 131,620 shares during the period. Finally, Northern Trust Corp boosted its holdings in Robinhood Markets by 4.2% during the first quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock valued at $169,035,000 after acquiring an additional 163,823 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 2.3%

Shares of NASDAQ HOOD opened at $115.03 on Friday. The company's fifty day moving average is $105.99 and its 200-day moving average is $73.46. The stock has a market cap of $102.22 billion, a price-to-earnings ratio of 58.39, a P/E/G ratio of 4.32 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $21.50 and a twelve month high of $123.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 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 quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, insider Steven M. Quirk sold 92,257 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the sale, the insider directly owned 136,364 shares of the company's stock, valued at approximately $11,585,485.44. The trade was a 40.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,773,719 shares of company stock valued at $589,293,510. 14.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOOD. Barclays boosted their target price 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. KeyCorp raised their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Citigroup lifted their target price on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Cantor Fitzgerald increased their target price on Robinhood Markets from $100.00 to $118.00 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 for the company. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.88.

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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