Keystone Investors PTE Ltd. Grows Stock Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Keystone Investors PTE Ltd. increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 6,364.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 559,041 shares of the company's stock after purchasing an additional 550,393 shares during the quarter. Robinhood Markets makes up approximately 3.3% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 11th largest position. Keystone Investors PTE Ltd. owned about 0.06% of Robinhood Markets worth $23,267,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden raised its holdings in Robinhood Markets by 95.0% in the 1st quarter. Forsta AP Fonden now owns 220,100 shares of the company's stock valued at $9,161,000 after acquiring an additional 107,200 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Robinhood Markets by 32.3% in the first quarter. National Bank of Canada FI now owns 3,518 shares of the company's stock valued at $146,000 after purchasing an additional 859 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Robinhood Markets by 33.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 815,806 shares of the company's stock valued at $33,954,000 after buying an additional 206,389 shares in the last quarter. Accuvest Global Advisors acquired a new stake in shares of Robinhood Markets in the 1st quarter worth $385,000. Finally, Headlands Technologies LLC raised its holdings in shares of Robinhood Markets by 380.0% during the 1st quarter. Headlands Technologies LLC now owns 163,350 shares of the company's stock worth $6,799,000 after acquiring an additional 129,316 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the sale, the insider owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,752,293 shares of company stock worth $436,586,556. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $111.23 on Friday. The business has a 50-day simple moving average of $90.33 and a 200-day simple moving average of $63.55. Robinhood Markets, Inc. has a one year low of $16.68 and a one year high of $113.44. The company has a market cap of $98.49 billion, a PE ratio of 56.46, a P/E/G ratio of 4.03 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly 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 in the previous year, the business posted $0.21 EPS. The firm's revenue was up 45.0% on a year-over-year basis. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of analyst reports. Citigroup upped their price objective 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. Compass Point increased their price objective on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft lifted 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. JMP Securities raised their price objective on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Finally, 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 research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $96.29.

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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