Jacobs Levy Equity Management Inc. Has $2.46 Million Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Robinhood Markets, by 98.3%, to 59,205 shares valued at approximately $2.46 million.
• In the first quarter, several institutional investors, including EJF Capital LLC and Altimeter Capital Management LP, made new acquisitions or increased their positions in Robinhood, with institutional ownership reaching 93.27%.
• Robinhood reported earnings of $0.42 per share for the last quarter, beating expectations, with revenue increasing by 45.0% year-over-year to $989 million.

Jacobs Levy Equity Management Inc. lessened its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 98.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 59,205 shares of the company's stock after selling 3,446,732 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Robinhood Markets were worth $2,464,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EJF Capital LLC bought a new position in shares of Robinhood Markets in the 1st quarter worth $416,000. Alliancebernstein L.P. increased its stake in Robinhood Markets by 28.7% during the 1st quarter. Alliancebernstein L.P. now owns 839,570 shares of the company's stock valued at $34,943,000 after purchasing an additional 187,043 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new position in Robinhood Markets during the first quarter worth $837,000. Banque Transatlantique SA acquired a new position in Robinhood Markets during the first quarter worth $324,000. Finally, Altimeter Capital Management LP bought a new position in shares of Robinhood Markets in the first quarter valued at $120,103,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Up 1.0%

Robinhood Markets stock opened at $118.50 on Wednesday. Robinhood Markets, Inc. has a 52 week low of $18.83 and a 52 week high of $118.70. The company's 50 day moving average price is $104.71 and its two-hundred day moving average price is $72.20. The stock has a market cap of $105.31 billion, a P/E ratio of 60.15, a P/E/G ratio of 4.30 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The company had revenue of $989.00 million during 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%.Robinhood Markets's revenue was up 45.0% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Activity

In related news, Director Meyer Malka sold 1,093,288 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the sale, the director owned 3,976,234 shares in the company, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $99.83, for a total transaction of $585,502.95. Following the completion of the sale, the chief technology officer directly owned 23,680 shares in the company, valued at approximately $2,363,974.40. This represents a 19.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,355,381 shares of company stock worth $539,335,586. 19.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HOOD has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Cantor Fitzgerald lifted their price target on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Mizuho boosted their price objective on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Citigroup raised their target price on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Piper Sandler lifted their target price on Robinhood Markets from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Eleven equities 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.