Raiffeisen Bank International AG Boosts Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Raiffeisen Bank International AG grew its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 6.4% in the 1st quarter, HoldingsChannel reports. The firm owned 159,636 shares of the company’s stock after purchasing an additional 9,636 shares during the quarter. Raiffeisen Bank International AG’s holdings in Robinhood Markets were worth $6,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Blue Sky Capital Consultants Group Inc. purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $2,203,000. Manchester Capital Management LLC purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $92,000. J. Safra Sarasin Holding AG purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $216,000. Bank of Nova Scotia boosted its stake in shares of Robinhood Markets by 92.6% in the first quarter. Bank of Nova Scotia now owns 600,871 shares of the company’s stock valued at $25,008,000 after purchasing an additional 288,824 shares during the period. Finally, Banco Santander S.A. purchased a new position in shares of Robinhood Markets in the first quarter valued at approximately $2,571,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Trading Down 3.1%

Shares of NASDAQ:HOOD opened at $99.90 on Monday. The company has a market capitalization of $88.46 billion, a PE ratio of 50.71, a P/E/G ratio of 4.59 and a beta of 2.36. Robinhood Markets, Inc. has a twelve month low of $13.98 and a twelve month high of $113.44. The firm has a 50 day simple moving average of $86.92 and a 200-day simple moving average of $62.11.

Robinhood Markets (NASDAQ:HOOD) last announced its 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 business had revenue of $989.00 million for the quarter, compared to analysts’ expectations of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The company’s quarterly revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent research reports. JMP Securities lifted 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 note on Thursday. Compass Point lifted their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. KeyCorp lifted their price target on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.29.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider directly owned 228,621 shares of the company’s stock, valued at approximately $16,035,476.94. The trade was a 31.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total transaction of $69,952,500.00. The disclosure for this sale can be found here. Insiders have sold 3,001,690 shares of company stock valued at $255,967,852 in the last ninety days. 19.95% of the stock is currently owned by company insiders.

Robinhood Markets Company 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.