IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Stock Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Robinhood Markets by 51.2%, owning a total of 57,205 shares valued at approximately $2.38 million.
• Insider sales include Baiju Bhatt, a director, selling 418,338 shares for over $42.6 million, significantly reducing their ownership by 97.55%.
• Robinhood's stock has a current price of $99.90, with analysts giving it a consensus rating of "Moderate Buy" and an average target price of approximately $96.29.

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 51.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,205 shares of the company's stock after purchasing an additional 19,362 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Robinhood Markets were worth $2,381,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Raiffeisen Bank International AG boosted its position in Robinhood Markets by 6.4% during the first quarter. Raiffeisen Bank International AG now owns 159,636 shares of the company's stock worth $6,692,000 after purchasing an additional 9,636 shares in the last quarter. Blue Sky Capital Consultants Group Inc. purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $2,203,000. Manchester Capital Management LLC purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $92,000. J. Safra Sarasin Holding AG purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $216,000. Finally, Bank of Nova Scotia lifted its position in shares of Robinhood Markets by 92.6% in the first quarter. Bank of Nova Scotia now owns 600,871 shares of the company's stock valued at $25,008,000 after acquiring an additional 288,824 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $101.88, for a total transaction of $42,620,275.44. Following the completion of the sale, the director owned 10,518 shares of the company's stock, valued at $1,071,573.84. This trade represents a 97.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 385,485 shares of Robinhood Markets stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50. The disclosure for this sale can be found here. Insiders have sold 3,001,690 shares of company stock valued at $255,967,852 over the last 90 days. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Stock Down 3.1%

HOOD stock opened at $99.90 on Monday. The business has a fifty day moving average of $86.92 and a two-hundred day moving average of $62.11. The stock has a market cap of $88.46 billion, a price-to-earnings ratio of 50.71, a price-to-earnings-growth ratio of 4.59 and a beta of 2.36. Robinhood Markets, Inc. has a 52-week low of $13.98 and a 52-week high of $113.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HOOD. JPMorgan Chase & Co. raised their target price on Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Citigroup raised their target price on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday. Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday. Barclays raised their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, JMP Securities raised their target price on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $96.29.

Robinhood Markets 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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