Nordea Investment Management AB Grows Stake in Robinhood Markets, Inc. $HOOD

Key Points

• Nordea Investment Management AB increased its stake in Robinhood Markets by 35.6%, acquiring an additional 174,325 shares, and now owns approximately 0.08% of the company valued at $58.44 million.
• Insider transactions include Baiju Bhatt selling over 1.5 million shares for approximately $156.81 million, while total insider sales in the past ninety days have reached $567.33 million.
• Robinhood Markets reported earnings of $0.42 per share, exceeding estimates and achieving 45% revenue growth compared to the previous year, with a current market cap of $115.45 billion.

Nordea Investment Management AB increased its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 35.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 664,317 shares of the company's stock after acquiring an additional 174,325 shares during the period. Nordea Investment Management AB owned approximately 0.08% of Robinhood Markets worth $58,440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its position in Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after acquiring an additional 3,032 shares in the last quarter. TD Private Client Wealth LLC grew its position in Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,186 shares in the last quarter. Wellington Management Group LLP grew its position in Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after acquiring an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after acquiring an additional 10,703 shares in the last quarter. Finally, Metavasi Capital LP grew its position in Robinhood Markets by 275.0% in the first quarter. Metavasi Capital LP now owns 75,000 shares of the company's stock worth $3,122,000 after acquiring an additional 55,000 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total transaction of $156,810,731.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider directly owned 94,454 shares in the company, valued at $9,531,353.14. The trade was a 38.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,181,462 shares of company stock worth $567,328,871. Insiders own 14.47% of the company's stock.

Robinhood Markets Stock Down 1.2%

Shares of NASDAQ:HOOD opened at $129.91 on Friday. The business's 50 day moving average is $121.26 and its 200 day moving average is $89.28. The stock has a market cap of $115.45 billion, a P/E ratio of 65.94, a price-to-earnings-growth ratio of 3.43 and a beta of 2.42. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86.

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

Analyst Ratings Changes

HOOD has been the subject of several recent research reports. Compass Point lifted their price target on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. JMP Securities raised their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods raised 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 note on Thursday, July 31st. Finally, Bank of America raised their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus target price of $118.94.

About Robinhood Markets

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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