US Bancorp DE Decreases Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Key Points

• US Bancorp DE reduced its stake in Robinhood Markets, Inc. by 29.2% in the first quarter, selling 12,403 shares and bringing their total to 30,142 shares valued at approximately $1,255,000.
• Several hedge funds increased their holdings in Robinhood, with Price T Rowe Associates raising its position by 335.6%, now owning 5,185,225 shares worth about $193,202,000.
• Robinhood recently reported record earnings, with a quarterly revenue of $989 million, surpassing expectations of $893.93 million, and had an EPS of $0.42, exceeding the consensus estimate by $0.12.

US Bancorp DE reduced its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 29.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,142 shares of the company's stock after selling 12,403 shares during the quarter. US Bancorp DE's holdings in Robinhood Markets were worth $1,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Newlands Management Operations LLC raised its position in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after purchasing an additional 273,860 shares during the last quarter. Two Sigma Advisers LP raised its position in Robinhood Markets by 0.5% during the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after buying an additional 52,700 shares during the last quarter. AQR Capital Management LLC raised its position in 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 buying an additional 3,673,861 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 buying an additional 3,994,745 shares during the last quarter. Finally, Northern Trust Corp raised its position in Robinhood Markets by 27.1% during the 4th quarter. Northern Trust Corp now owns 3,897,575 shares of the company's stock worth $145,224,000 after buying an additional 830,703 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $114.63 on Friday. The company's fifty day moving average price is $91.32 and its 200 day moving average price is $64.00. Robinhood Markets, Inc. has a 1 year low of $17.55 and a 1 year high of $117.00. The stock has a market capitalization of $101.87 billion, a P/E ratio of 58.19, a P/E/G ratio of 4.24 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $893.93 million. During the same quarter in the previous year, the company posted $0.21 EPS. The firm's quarterly revenue was up 45.0% on a year-over-year basis. Sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. JMP Securities raised their price target 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. Cantor Fitzgerald raised their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 40,131 shares of Robinhood Markets stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $104.71, for a total transaction of $4,202,117.01. Following the sale, the insider owned 120,408 shares of the company's stock, valued at $12,607,921.68. The trade was a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on 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 directly owned 566,887 shares in the company, valued at approximately $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 4,752,293 shares of company stock worth $436,586,556 over the last 90 days. Corporate insiders own 14.47% of the company's stock.

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.