TFB Advisors LLC Purchases New Shares in Robinhood Markets, Inc. $HOOD

Key Points

• TFB Advisors LLC bought 7,599 shares of Robinhood Markets, Inc. for about $316,000 in the first quarter of the year, marking a broader trend of institutional investors increasing their positions in the company.
• Equity analysts have raised their price targets for Robinhood, with Citigroup boosting it from $100 to $120, while maintaining a "neutral" rating, indicating ongoing positive market sentiment.
• Insider trading activity showed significant sales, with CEO Vladimir Tenev selling 385,485 shares worth roughly $39.3 million, highlighting potential concerns about executive confidence in the company's future.

TFB Advisors LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,599 shares of the company's stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. AGF Management Ltd. increased its stake in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Robinhood Markets by 335.6% during the 4th 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 last quarter. Wealthquest Corp acquired a new position in shares of Robinhood Markets during the 1st quarter worth about $156,193,000. Finally, AQR Capital Management LLC increased its stake in shares of Robinhood Markets by 231.9% during the 4th 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 last quarter. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,644,685 shares of company stock valued at $448,881,884. Insiders own 14.47% of the company's stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Citigroup upped their price target on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. KeyCorp boosted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Mizuho boosted their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted 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. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Robinhood Markets has an average rating of "Moderate Buy" and a consensus price target of $100.31.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock traded up $3.02 on Friday, reaching $109.32. 39,820,141 shares of the stock were exchanged, compared to its average volume of 41,865,128. The firm has a market cap of $97.15 billion, a PE ratio of 55.49, a P/E/G ratio of 3.90 and a beta of 2.36. The firm's 50 day moving average is $98.88 and its 200-day moving average is $68.10. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. The business 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 was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS. On average, equities research analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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.