Union Bancaire Privee UBP SA Invests $10.12 Million in Robinhood Markets, Inc. $HOOD

Key Points

• Union Bancaire Privee UBP SA has invested approximately $10.12 million in Robinhood Markets by purchasing 108,092 shares in the second quarter.
• Analysts have raised their price targets for Robinhood Markets, with estimates now ranging from $106.00 to $145.00 per share, reflecting a strong market interest.
• Insider sales occurred recently, including a sale of 60,113 shares by an insider at an average price of $100.91, indicating notable insider activity amidst the current stock performance.

Union Bancaire Privee UBP SA purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 108,092 shares of the company's stock, valued at approximately $10,121,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC lifted its holdings in shares of Robinhood Markets by 6.4% during the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company's stock worth $2,092,000 after acquiring an additional 3,032 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Robinhood Markets by 184.4% during the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,186 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Robinhood Markets by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company's stock worth $677,000 after acquiring an additional 486 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company's stock worth $799,000 after acquiring an additional 10,703 shares during the period. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth approximately $277,000. Institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. 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. JMP Securities upped their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Mizuho upped their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Barclays upped their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC upped their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and an average target price of $104.06.

Insider Buying and Selling

In other news, insider Steven M. Quirk sold 60,113 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company's stock, valued at approximately $9,531,353.14. This represents a 38.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the completion of the sale, the insider directly owned 610,949 shares in the company, valued at approximately $61,656,973.08. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,931,462 shares of company stock worth $511,774,417. Corporate insiders own 19.95% of the company's stock.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $136.72 on Tuesday. Robinhood Markets, Inc. has a 52-week low of $22.05 and a 52-week high of $136.84. The firm has a 50 day moving average price of $111.13 and a two-hundred day moving average price of $80.02. The stock has a market cap of $121.50 billion, a P/E ratio of 69.40, a price-to-earnings-growth ratio of 4.34 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same period in the prior year, the firm posted $0.21 EPS. The company's quarterly revenue was up 45.0% on a year-over-year basis. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share 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.

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