Quantitative Investment Management LLC Takes Position in Robinhood Markets, Inc. $HOOD

Key Points

• Quantitative Investment Management LLC has invested approximately $2.4 million in Robinhood Markets, acquiring 57,694 shares in the 1st quarter.
• Other large investors such as Vanguard Group Inc. and AGF Management Ltd. have also increased their stakes in Robinhood, indicating strong institutional interest.
• Robinhood reported a significant quarterly earnings beat with earnings per share of $0.42, surpassing analysts' expectations of $0.30 and achieving a revenue increase of 45% year-over-year.

Quantitative Investment Management LLC purchased a new position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 57,694 shares of the company's stock, valued at approximately $2,401,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GeoWealth Management LLC purchased a new stake in Robinhood Markets in the 4th quarter worth $53,000. MetLife Investment Management LLC increased its stake in shares of Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Robinhood Markets by 4.3% during the fourth quarter. MML Investors Services LLC now owns 54,052 shares of the company's stock valued at $2,014,000 after acquiring an additional 2,213 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Robinhood Markets by 646.9% in the fourth quarter. Stifel Financial Corp now owns 196,578 shares of the company's stock valued at $7,324,000 after acquiring an additional 170,259 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Robinhood Markets by 335.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD traded down $5.88 during midday trading on Wednesday, reaching $102.92. 34,233,798 shares of the company's stock were exchanged, compared to its average volume of 41,576,855. The stock has a market cap of $91.46 billion, a price-to-earnings ratio of 52.24, a P/E/G ratio of 3.96 and a beta of 2.36. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70. The firm's 50 day simple moving average is $100.19 and its two-hundred day simple moving average is $68.95.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced 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 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 analyst estimates of $893.93 million. During the same quarter last year, the firm posted $0.21 earnings per share. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. Equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JMP Securities raised their price objective on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Morgan Stanley boosted 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 report on Tuesday, July 15th. Barclays upped their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Compass Point boosted their target price on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $48.00 price target (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Eleven equities 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.31.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 385,485 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total value of $39,280,921.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $109.39, for a total value of $45,761,993.82. The disclosure for this sale can be found here. Insiders have sold 4,644,685 shares of company stock worth $448,881,884 in the last three months. Company insiders own 19.95% of the company's stock.

Robinhood Markets 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.