Atika Capital Management LLC Acquires New Shares in Robinhood Markets, Inc. $HOOD

Atika Capital Management LLC purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 143,000 shares of the company’s stock, valued at approximately $5,952,000.

Other institutional investors have also bought and sold shares of the company. TD Private Client Wealth LLC grew its position in shares of Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after purchasing an additional 1,186 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Robinhood Markets by 125.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock worth $799,000 after purchasing an additional 10,703 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Robinhood Markets during the first quarter worth approximately $277,000. Burns Matteson Capital Management LLC purchased a new position in shares of Robinhood Markets during the first quarter worth approximately $495,000. Finally, Deutsche Bank AG increased its position in shares of Robinhood Markets by 137.6% during the first quarter. Deutsche Bank AG now owns 1,761,767 shares of the company’s stock worth $73,325,000 after acquiring an additional 1,020,286 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Stock Down 2.0%

Shares of NASDAQ:HOOD opened at $105.34 on Thursday. The company has a market cap of $93.61 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 3.94 and a beta of 2.36. The firm’s 50-day simple moving average is $97.50 and its 200-day simple moving average is $67.34. Robinhood Markets, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $117.70.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 net margin of 50.13% and a return on equity of 17.48%. The firm’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share. On average, research analysts forecast that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HOOD shares. Piper Sandler lifted their price objective on shares of Robinhood Markets from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. KeyCorp upped their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Morgan Stanley upped their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Compass Point upped their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Finally, JMP Securities upped their price objective on shares of Robinhood Markets from $125.00 to $130.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.31.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.97, for a total transaction of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares of the company’s stock, valued at $59,170,943.39. This represents a 27.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,644,685 shares of company stock valued at $448,881,884. 14.47% of the stock is currently owned by company insiders.

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.