Robinhood Markets, Inc. $HOOD Holdings Cut by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG has cut its stake in Robinhood Markets by 51.9%, reducing its holdings to 2,500 shares worth approximately $234,000.
• Other institutional investors have also increased or established positions in Robinhood, with 93.27% of the stock being owned by such investors, indicating strong institutional interest.
• Robinhood reported a 45.0% increase in revenue year-over-year for the last quarter, with earnings per share beating estimates at $0.42 compared to the consensus estimate of $0.30.

J. Safra Sarasin Holding AG reduced its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 51.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the company's stock after selling 2,700 shares during the period. J. Safra Sarasin Holding AG's holdings in Robinhood Markets were worth $234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new position in Robinhood Markets in the second quarter valued at about $951,479,000. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. AGF Management Ltd. grew its stake in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares in the last quarter. Wealthquest Corp acquired a new position in Robinhood Markets in the first quarter worth approximately $156,193,000. Finally, Altimeter Capital Management LP bought a new position in Robinhood Markets during the first quarter valued at approximately $120,103,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 2.0%

Shares of NASDAQ HOOD opened at $148.67 on Monday. The firm has a market capitalization of $132.12 billion, a price-to-earnings ratio of 75.47, a PEG ratio of 4.13 and a beta of 2.42. Robinhood Markets, Inc. has a one year low of $22.61 and a one year high of $150.21. The business has a fifty day simple moving average of $114.45 and a 200 day simple moving average of $82.87.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business's revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the sale, the insider directly owned 591,887 shares of the company's stock, valued at approximately $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,650,598 shares of company stock worth $613,676,575 in the last three months. 19.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on HOOD shares. Keefe, Bruyette & Woods increased their price target 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. Redburn Atlantic reiterated a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. JMP Securities raised their target price on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Piper Sandler reiterated an "overweight" rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research note on Tuesday, September 23rd. Finally, Needham & Company LLC increased their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and an average price target of $113.59.

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.

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