UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 668,184 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• UBS Asset Management Americas LLC increased its stake in Robinhood Markets by 24.5%, owning approximately 3.4 million shares valued at $141.3 million after acquiring 668,184 shares in the first quarter.
• Insider transactions revealed considerable sales, with Director Meyer Malka selling over 1 million shares for approximately $113.6 million, representing a 21.57% decrease in his position.
• Robinhood reported a 45% year-over-year revenue increase in its latest earnings report, with an earnings per share (EPS) of $0.42, exceeding estimates by $0.12.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 24.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,395,651 shares of the company's stock after acquiring an additional 668,184 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.38% of Robinhood Markets worth $141,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in shares of Robinhood Markets by 46.7% during the 1st quarter. Empowered Funds LLC now owns 49,870 shares of the company's stock worth $2,076,000 after buying an additional 15,885 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Robinhood Markets by 21.4% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,379 shares of the company's stock worth $349,000 after buying an additional 1,479 shares during the period. Caxton Associates LLP acquired a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $2,688,000. Fred Alger Management LLC grew its position in shares of Robinhood Markets by 164.0% during the 1st quarter. Fred Alger Management LLC now owns 3,680,960 shares of the company's stock worth $153,202,000 after buying an additional 2,286,645 shares during the period. Finally, UniSuper Management Pty Ltd grew its position in shares of Robinhood Markets by 21.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,400 shares of the company's stock worth $516,000 after buying an additional 2,200 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares in the company, valued at $413,011,425.58. This represents a 21.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Quirk sold 92,257 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $84.96, for a total value of $7,838,154.72. Following the completion of the transaction, the insider owned 136,364 shares of the company's stock, valued at $11,585,485.44. This trade represents a 40.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,773,719 shares of company stock worth $589,293,510. Company insiders own 14.47% of the company's stock.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $115.03 on Friday. The company has a market capitalization of $102.22 billion, a PE ratio of 58.39, a price-to-earnings-growth ratio of 4.32 and a beta of 2.36. The business has a fifty day moving average price of $105.99 and a two-hundred day moving average price of $73.46. Robinhood Markets, Inc. has a 1 year low of $21.50 and a 1 year high of $123.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business'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 earned $0.21 EPS. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HOOD shares. Mizuho raised their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday. JMP Securities raised their price objective on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group raised their price objective on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Needham & Company LLC raised their price objective on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Compass Point raised their price objective on Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.88.

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.

Want to see what other hedge funds are holding HOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.