Yarbrough Capital LLC Acquires 230,700 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• Yarbrough Capital LLC significantly increased its stake in Robinhood Markets, acquiring an additional 230,700 shares, which raised their total ownership by 512.7% to 275,700 shares valued at approximately $25.8 million.
• Insider trading activity includes a sale of 5,865 shares by CTO Jeffrey Pinner and 1,093,288 shares by Director Meyer Malka, reflecting substantial decreases in their ownership positions.
• Robinhood Markets reported a quarterly EPS of $0.42, exceeding analysts' expectations and showing a year-over-year revenue growth of 45%, with projected earnings of 1.35 EPS for the current year.

Yarbrough Capital LLC raised its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 512.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,700 shares of the company's stock after buying an additional 230,700 shares during the quarter. Robinhood Markets accounts for approximately 0.9% of Yarbrough Capital LLC's holdings, making the stock its 21st biggest holding. Yarbrough Capital LLC's holdings in Robinhood Markets were worth $25,814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings 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 period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets in the 2nd quarter valued at $951,479,000. AGF Management Ltd. boosted its stake in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Robinhood Markets by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after purchasing an additional 131,620 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Robinhood Markets by 4.2% in the 1st quarter. Northern Trust Corp now owns 4,061,398 shares of the company's stock valued at $169,035,000 after purchasing an additional 163,823 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In related news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was 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 directly owned 23,680 shares of the company's stock, valued at approximately $2,363,974.40. This represents a 19.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Meyer Malka sold 1,093,288 shares of the stock in a transaction that occurred 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 sale, the director directly owned 3,976,234 shares of the company's stock, valued at approximately $413,011,425.58. The trade was a 21.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,675,598 shares of company stock worth $580,999,019 over the last quarter. Insiders own 19.95% of the company's stock.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $126.20 on Wednesday. The stock has a market cap of $112.15 billion, a PE ratio of 64.06, a price-to-earnings-growth ratio of 4.63 and a beta of 2.36. The stock has a 50-day moving average of $109.43 and a 200-day moving average of $77.23. Robinhood Markets, Inc. has a one year low of $22.05 and a one year high of $127.78.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Cantor Fitzgerald boosted their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Barclays boosted their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up previously from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Finally, JMP Securities upped 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. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $104.06.

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.

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