Tredje AP fonden Has $29.88 Million Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Tredje AP fonden significantly increased its stake in Robinhood Markets by 156.4%, now holding approximately 0.08% of the company's shares valued at about $29.88 million.
• Analysts have raised their price targets for Robinhood, with projections ranging from $70.00 to $110.00, indicating a generally positive outlook with a consensus rating of "Moderate Buy".
• Robinhood reported a quarterly revenue increase of 50% year-over-year, with earnings per share of $0.37, missing estimates but exceeding revenue expectations.

Tredje AP fonden lifted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 156.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 717,920 shares of the company's stock after acquiring an additional 437,920 shares during the period. Tredje AP fonden owned approximately 0.08% of Robinhood Markets worth $29,880,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HOOD. Whipplewood Advisors LLC raised its position in shares of Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC raised its holdings in Robinhood Markets by 191.6% during the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after buying an additional 550 shares during the period. Colonial Trust Co SC acquired a new stake in Robinhood Markets during the 4th quarter worth approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Robinhood Markets by 139.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock worth $36,000 after buying an additional 498 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on HOOD shares. KeyCorp raised their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. raised their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Redburn Atlantic restated a "sell" rating and set a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Mizuho set a $120.00 price objective on shares of Robinhood Markets and gave the company an "outperform" rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.29.

Insider Buying and Selling

In other news, CEO Vladimir Tenev sold 385,485 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the business's 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 completion of the sale, the chief technology officer directly owned 3,044 shares of the company's stock, valued at approximately $318,798.12. The trade was a 65.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,026,690 shares of company stock valued at $257,160,102 in the last 90 days. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

HOOD stock traded down $3.15 during midday trading on Friday, reaching $99.90. 76,566,177 shares of the company were exchanged, compared to its average volume of 41,935,133. The business has a 50-day moving average price of $86.18 and a two-hundred day moving average price of $61.49. Robinhood Markets, Inc. has a one year low of $13.98 and a one year high of $113.44. The firm has a market capitalization of $88.46 billion, a price-to-earnings ratio of 50.71, a price-to-earnings-growth ratio of 5.40 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.69%. The firm had revenue of $989.00 million during the quarter, compared to analysts' expectations of $893.93 million. During the same period in the previous year, the business posted $0.21 earnings per share. The company's revenue for the quarter was up 45.0% compared to the same quarter last year. As a group, analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal 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.