Smartleaf Asset Management LLC Acquires 3,900 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Smartleaf Asset Management LLC increased its holdings in Robinhood Markets by 144.6%, acquiring an additional 3,900 shares, bringing its total to 6,597 shares valued at approximately $277,000.
• The company reported earnings of $0.42 per share, surpassing analyst estimates, with quarterly revenue of $989 million, marking a 45% year-over-year increase.
• Insider selling activity included significant sales by CEO Vladimir Tenev and other insiders, with a total of 4.6 million shares sold valued at nearly $449 million in the last quarter.

Smartleaf Asset Management LLC grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 144.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,597 shares of the company's stock after acquiring an additional 3,900 shares during the period. Smartleaf Asset Management LLC's holdings in Robinhood Markets were worth $277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HOOD. MetLife Investment Management LLC grew its position in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after acquiring an additional 171 shares during the period. MML Investors Services LLC grew its position in shares of Robinhood Markets by 4.3% in the 4th quarter. MML Investors Services LLC now owns 54,052 shares of the company's stock valued at $2,014,000 after acquiring an additional 2,213 shares during the period. Stifel Financial Corp grew its position in shares of Robinhood Markets by 646.9% in the 4th quarter. Stifel Financial Corp now owns 196,578 shares of the company's stock valued at $7,324,000 after acquiring an additional 170,259 shares during the period. MGO One Seven LLC bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $276,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Robinhood Markets in the 4th quarter valued at about $430,000. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Price Performance

Shares of HOOD stock traded up $0.77 on Thursday, hitting $103.69. The stock had a trading volume of 25,978,086 shares, compared to its average volume of 41,665,436. The business has a 50 day moving average of $101.18 and a 200 day moving average of $69.51. The stock has a market cap of $92.15 billion, a price-to-earnings ratio of 52.63, a price-to-earnings-growth ratio of 3.77 and a beta of 2.36. Robinhood Markets, Inc. has a 12-month low of $18.71 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm's revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, research analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Mizuho lifted their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. JMP Securities boosted their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. 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 report on Monday, June 9th. Citigroup boosted their target price on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.31.

Insider Buying and Selling at Robinhood Markets

In related news, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $109.39, for a total transaction of $45,761,993.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $104.23, for a total transaction of $2,605,750.00. Following the sale, the insider owned 566,887 shares of the company's stock, valued at $59,086,632.01. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,644,685 shares of company stock valued at $448,881,884 in the last three months. 14.47% of the stock is owned by corporate insiders.

About Robinhood Markets

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.