J. Safra Sarasin Holding AG Purchases Shares of 5,200 Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• J. Safra Sarasin Holding AG has acquired a new stake in Robinhood Markets, purchasing 5,200 shares valued at approximately $216,000.
• Robinhood reported strong quarterly earnings with a 45% increase in revenue, totaling $989 million, and a beat on EPS estimates at $0.42.
• Institutional investors own about 93.27% of Robinhood's stock, indicating substantial support from larger financial entities.

J. Safra Sarasin Holding AG purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,200 shares of the company's stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC increased its position in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Robinhood Markets in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after purchasing an additional 498 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $34,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Robinhood Markets

In related news, insider Steven M. Quirk sold 40,131 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $104.71, for a total value of $4,202,117.01. Following the sale, the insider directly owned 120,408 shares in the company, valued at $12,607,921.68. The trade was a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $104.23, for a total transaction of $2,605,750.00. Following the completion of the sale, the insider directly owned 566,887 shares in the company, valued at approximately $59,086,632.01. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,870,760 shares of company stock valued at $443,132,553. 14.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays upped their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Citigroup upped their target price on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Morgan Stanley upped their target price on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Piper Sandler upped their target price on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $96.29.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $5.58 during mid-day trading on Thursday, hitting $111.23. The stock had a trading volume of 44,572,928 shares, compared to its average volume of 45,380,568. Robinhood Markets, Inc. has a fifty-two week low of $16.68 and a fifty-two week high of $113.44. The firm has a market cap of $98.49 billion, a PE ratio of 56.46, a PEG ratio of 4.03 and a beta of 2.36. The company's 50-day simple moving average is $90.33 and its 200-day simple moving average is $63.55.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same quarter last year, the business earned $0.21 EPS. The business's revenue was up 45.0% on a year-over-year basis. On average, analysts expect 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.