Robinhood Markets, Inc. $HOOD Position Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Robinhood Markets by 14.5%, now owning 117,075 shares valued at approximately $4.87 million.
• Insider trades reveal CEO Vladimir Tenev sold 750,000 shares for about $70 million, contributing to a total of 4.6 million shares sold by insiders worth $448 million in the last quarter.
• Robinhood reported $0.42 EPS for the latest quarter, exceeding analyst expectations, with a 45% increase in revenue year-over-year.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,075 shares of the company's stock after purchasing an additional 14,832 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Robinhood Markets were worth $4,873,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after purchasing an additional 5,874,701 shares during the last quarter. Newlands Management Operations LLC increased its stake in Robinhood Markets by 1.1% during the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Two Sigma Advisers LP increased its stake in Robinhood Markets by 0.5% during the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after purchasing an additional 52,700 shares during the last quarter. AGF Management Ltd. grew its position in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after acquiring an additional 4,255,862 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Robinhood Markets by 231.9% during the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock worth $195,907,000 after acquiring an additional 3,673,861 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the sale, the insider directly owned 591,887 shares of the company's stock, valued at $59,170,943.39. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,644,685 shares of company stock worth $448,881,884. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Down 1.3%

Shares of HOOD opened at $107.94 on Tuesday. The firm has a 50-day moving average price of $99.51 and a 200 day moving average price of $68.67. The firm has a market capitalization of $95.92 billion, a PE ratio of 54.79, a P/E/G ratio of 4.01 and a beta of 2.36. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Deutsche Bank Aktiengesellschaft upped their price target 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. Morgan Stanley upped 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. Needham & Company LLC upped their price target on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, KeyCorp upped their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average 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.

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