Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank has increased its stake in Robinhood Markets, acquiring an additional 76,841 shares, bringing their total holdings to 343,749 shares valued at approximately $14.3 million.
• Robinhood reported $0.37 EPS for the last quarter, missing analysts' estimates of $0.41, despite a significant year-over-year revenue growth of 50% to $927 million.
• Institutional investors own 93.27% of Robinhood's stock, indicating strong institutional interest in the company.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 28.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 343,749 shares of the company's stock after acquiring an additional 76,841 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Robinhood Markets were worth $14,307,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. raised its position in shares of Robinhood Markets by 73.4% in the 4th quarter. American Century Companies Inc. now owns 90,922 shares of the company's stock worth $3,388,000 after buying an additional 38,495 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Robinhood Markets by 2.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 191,105 shares of the company's stock valued at $7,121,000 after purchasing an additional 3,992 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Robinhood Markets by 64.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,179 shares of the company's stock worth $603,000 after purchasing an additional 6,312 shares during the period. Allstate Corp acquired a new stake in Robinhood Markets during the 4th quarter worth approximately $589,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Robinhood Markets in the fourth quarter valued at approximately $25,491,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 418,338 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $74.29, for a total transaction of $31,078,330.02. Following the sale, the director directly owned 7,863 shares in the company, valued at approximately $584,142.27. This represents a 98.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 104,887 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,026,690 shares of company stock worth $257,160,102 over the last ninety days. Company insiders own 14.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HOOD shares. Cantor Fitzgerald raised their target price on shares of Robinhood Markets from $89.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. raised their target price on 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 $57.00 to $102.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup boosted their target price on shares of Robinhood Markets from $50.00 to $100.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Robinhood Markets has an average rating of "Moderate Buy" and an average target price of $85.29.

Robinhood Markets Stock Up 2.7%

NASDAQ:HOOD traded up $2.78 during trading hours on Wednesday, reaching $106.10. 38,487,292 shares of the stock were exchanged, compared to its average volume of 47,050,172. Robinhood Markets, Inc. has a 52 week low of $13.98 and a 52 week high of $113.44. The stock has a market capitalization of $93.95 billion, a P/E ratio of 60.28, a P/E/G ratio of 5.26 and a beta of 2.36. The firm has a 50 day simple moving average of $85.42 and a 200-day simple moving average of $61.05.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 48.77% and a return on equity of 15.42%. During the same quarter in the previous year, the business earned $0.21 EPS. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. As a group, analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share 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.