Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG increased its stake in Robinhood Markets by 6.4%, obtaining 159,636 shares valued at approximately $6.7 million.
• Numerous hedge funds, including American Century Companies and Alliancebernstein, significantly raised their stakes in Robinhood during the previous quarter, with institutional investors now holding 93.27% of the company's shares.
• Robinhood Markets reported financial results showing an EPS of $0.42, exceeding analysts' expectations, and a revenue increase of 45% year-over-year.

Raiffeisen Bank International AG raised its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,636 shares of the company's stock after purchasing an additional 9,636 shares during the quarter. Raiffeisen Bank International AG's holdings in Robinhood Markets were worth $6,692,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of Robinhood Markets by 73.4% in the fourth quarter. American Century Companies Inc. now owns 90,922 shares of the company's stock worth $3,388,000 after acquiring an additional 38,495 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of Robinhood Markets by 64.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 16,179 shares of the company's stock worth $603,000 after acquiring an additional 6,312 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Robinhood Markets by 43.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,505 shares of the company's stock worth $184,000 after acquiring an additional 1,372 shares during the period. Wellington Management Group LLP purchased a new stake in Robinhood Markets during the fourth quarter worth $588,000. Finally, Alliancebernstein L.P. boosted its holdings in Robinhood Markets by 141.7% during the fourth quarter. Alliancebernstein L.P. now owns 652,527 shares of the company's stock worth $24,313,000 after buying an additional 382,583 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 92,257 shares of Robinhood Markets stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the completion of the sale, the insider directly owned 136,364 shares in the company, valued at $11,585,485.44. This trade represents a 40.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $104.73, for a total transaction of $614,136.72. Following the sale, the chief technology officer owned 3,044 shares of the company's stock, valued at approximately $318,798.12. This represents a 65.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,001,690 shares of company stock valued at $255,967,852. 19.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Barclays increased their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Keefe, Bruyette & Woods increased their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a report on Thursday. Finally, Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Robinhood Markets Trading Down 3.1%

Robinhood Markets stock opened at $99.90 on Monday. Robinhood Markets, Inc. has a 12-month low of $13.98 and a 12-month high of $113.44. The stock has a market cap of $88.46 billion, a P/E ratio of 50.71, a PEG ratio of 4.59 and a beta of 2.36. The company has a 50-day moving average price of $86.92 and a 200 day moving average price of $62.11.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (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 firm had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period last year, the business earned $0.21 earnings per share. Robinhood Markets's revenue was up 45.0% compared to the same quarter last year. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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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