Skandinaviska Enskilda Banken AB publ Has $5.59 Million Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Robinhood Markets, raising its holdings by 23.6% to 134,214 shares worth approximately $5.58 million.
• Several institutional investors have also significantly altered their positions in Robinhood, with Whipplewood Advisors LLC increasing its stake by 564.4% during the first quarter.
• Robinhood reported a quarterly earnings per share of $0.37, missing the consensus estimate of $0.41, but showing a 50% revenue increase year-over-year.

Skandinaviska Enskilda Banken AB publ boosted its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 23.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,214 shares of the company's stock after buying an additional 25,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Robinhood Markets were worth $5,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its position in Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank bought a new position in Robinhood Markets in the fourth quarter worth $329,598,000. Price T Rowe Associates Inc. MD lifted its position in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after purchasing an additional 3,994,745 shares during the period. Wealthquest Corp bought a new position in Robinhood Markets in the first quarter worth $156,193,000. Finally, AQR Capital Management LLC lifted its position in Robinhood Markets by 231.9% in the fourth quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock worth $195,907,000 after purchasing an additional 3,673,861 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Price Performance

HOOD traded down $2.11 during trading on Thursday, reaching $103.99. The company had a trading volume of 39,787,178 shares, compared to its average volume of 41,552,102. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $113.44. The business's fifty day moving average price is $85.42 and its 200 day moving average price is $61.05. The company has a market cap of $92.08 billion, a P/E ratio of 59.16, a PEG ratio of 5.26 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 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 analysts' expectations of $893.93 million. Robinhood Markets had a return on equity of 15.42% and a net margin of 48.77%. The business's quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. As a group, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HOOD. Compass Point increased their price objective on Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Citigroup raised their target price on Robinhood Markets from $50.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. The Goldman Sachs Group raised their target price on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Cantor Fitzgerald raised their target price on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has an average rating of "Moderate Buy" and a consensus price target of $94.06.

Insider Transactions at Robinhood Markets

In other news, insider Steven M. Quirk sold 92,257 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $84.96, for a total transaction of $7,838,154.72. Following the sale, the insider owned 136,364 shares in the company, valued at $11,585,485.44. This represents a 40.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $93.88, for a total value of $2,347,000.00. Following the sale, the insider owned 816,887 shares in the company, valued at approximately $76,689,351.56. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,026,690 shares of company stock worth $257,160,102. Corporate insiders own 14.47% of the company's stock.

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.