UniSuper Management Pty Ltd Increases Position in Robinhood Markets, Inc. $HOOD

Key Points

• UniSuper Management Pty Ltd increased its holdings in Robinhood Markets by 21.6% during the 1st quarter, purchasing an additional 2,200 shares for a total value of approximately $516,000.
• Several other institutional investors significantly increased their positions in Robinhood, with some, like Whipplewood Advisors, raising their stake by 564.4% in the same quarter.
• Research firms have varying ratings on Robinhood, with price targets ranging from $48 to $145, reflecting a consensus rating of "Moderate Buy" and an average target price of $101.88.

UniSuper Management Pty Ltd lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 21.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,400 shares of the company's stock after buying an additional 2,200 shares during the period. UniSuper Management Pty Ltd's holdings in Robinhood Markets were worth $516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC increased its position in Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management increased its position in shares of Robinhood Markets by 52.2% in the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the first quarter worth $30,000. CoreCap Advisors LLC increased its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after acquiring an additional 550 shares in the last quarter. Finally, Pandora Wealth Inc. acquired a new stake in shares of Robinhood Markets in the first quarter worth $33,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on HOOD. Piper Sandler began coverage on shares of Robinhood Markets in a report on Wednesday. They set an "overweight" rating and a $120.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. KeyCorp raised their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Mizuho raised their price target on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday. Eleven 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. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $101.88.

Robinhood Markets Stock Up 0.2%

Shares of NASDAQ:HOOD opened at $117.75 on Friday. The company has a market cap of $104.64 billion, a PE ratio of 59.77, a P/E/G ratio of 4.30 and a beta of 2.36. The company's 50-day moving average price is $105.58 and its 200 day moving average price is $72.98. Robinhood Markets, Inc. has a fifty-two week low of $20.67 and a fifty-two week high of $123.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share 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 the consensus estimate of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. As a group, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.92, for a total value of $2,523,000.00. Following the sale, the insider directly owned 610,949 shares in the company, valued at $61,656,973.08. This trade represents a 3.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $99.83, for a total transaction of $585,502.95. Following the completion of the sale, the chief technology officer owned 23,680 shares in the company, valued at approximately $2,363,974.40. This represents a 19.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,355,381 shares of company stock worth $539,335,586 over the last 90 days. Corporate insiders own 14.47% of the company's stock.

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.

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.