Itau Unibanco Holding S.A. Sells 42,100 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Itau Unibanco Holding S.A. significantly reduced its stake in Robinhood Markets, Inc., selling 42,100 shares and bringing its total holdings down to 5,872 shares, valued at approximately $244,000.
• Insiders sold a total of 4,644,685 shares of Robinhood stock worth nearly $449 million in the last 90 days, representing a notable decrease in ownership.
• Analyst ratings for Robinhood are predominantly positive, with eleven analysts issuing a "Buy" rating and an average price target of $100.31.

Itau Unibanco Holding S.A. lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 87.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,872 shares of the company's stock after selling 42,100 shares during the period. Itau Unibanco Holding S.A.'s holdings in Robinhood Markets were worth $244,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. MetLife Investment Management LLC increased its holdings in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after buying an additional 171 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Robinhood Markets during the fourth quarter worth approximately $430,000. Kovitz Investment Group Partners LLC bought a new stake in Robinhood Markets during the fourth quarter worth approximately $567,000. Coldstream Capital Management Inc. purchased a new stake in Robinhood Markets during the fourth quarter valued at approximately $228,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Robinhood Markets by 11.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 44,296 shares of the company's stock valued at $1,650,000 after purchasing an additional 4,556 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $104.73, for a total transaction of $614,136.72. Following the completion of the sale, the chief technology officer owned 3,044 shares of the company's stock, valued at approximately $318,798.12. This trade represents a 65.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,644,685 shares of company stock worth $448,881,884. Insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. 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 research note on Tuesday, July 15th. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Barclays increased their price target on Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $100.31.

Robinhood Markets Stock Performance

Shares of HOOD opened at $103.69 on Friday. The company has a 50 day moving average price of $101.18 and a 200-day moving average price of $69.51. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70. The stock has a market capitalization of $92.15 billion, a PE ratio of 52.63, a PEG ratio of 3.77 and a beta of 2.36.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The business 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 business's revenue was up 45.0% compared to the same quarter last year. During the same period last year, the business posted $0.21 EPS. Equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current 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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