Itau Unibanco Holding S.A. Purchases 45,582 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Itau Unibanco Holding S.A. lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 1,907.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,972 shares of the company's stock after buying an additional 45,582 shares during the period. Itau Unibanco Holding S.A.'s holdings in Robinhood Markets were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HOOD. FMR LLC increased its holdings in Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock valued at $1,499,248,000 after buying an additional 26,107,934 shares during the period. Geode Capital Management LLC increased its stake in Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company's stock valued at $455,464,000 after acquiring an additional 555,299 shares during the last quarter. Renaissance Technologies LLC raised its position in Robinhood Markets by 34.4% during the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company's stock valued at $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. Norges Bank bought a new stake in Robinhood Markets during the fourth quarter worth $329,598,000. Finally, GQG Partners LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $302,325,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Insider Activity

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $41.96, for a total value of $31,470,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 123,272 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. The trade was a 29.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,334,593 shares of company stock valued at $114,815,021 in the last ninety days. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Up 4.2 %

Robinhood Markets stock traded up $1.97 during mid-day trading on Friday, hitting $48.59. 59,084,034 shares of the stock were exchanged, compared to its average volume of 25,744,391. The firm's fifty day simple moving average is $43.08 and its two-hundred day simple moving average is $41.56. Robinhood Markets, Inc. has a 12 month low of $13.98 and a 12 month high of $66.91. The stock has a market capitalization of $43.02 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. During the same quarter in the previous year, the firm earned $0.18 EPS. Robinhood Markets's quarterly revenue was up 50.0% on a year-over-year basis. As a group, analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

HOOD has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Piper Sandler increased their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Cantor Fitzgerald decreased their target price on shares of Robinhood Markets from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on Robinhood Markets from $75.00 to $61.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Finally, KeyCorp cut their price objective on Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $53.24.

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.