Hsbc Holdings PLC Grows Holdings in Robinhood Markets, Inc. $HOOD

Hsbc Holdings PLC grew its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 126.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 509,297 shares of the company’s stock after buying an additional 284,192 shares during the quarter. Hsbc Holdings PLC’s holdings in Robinhood Markets were worth $21,113,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. TD Private Client Wealth LLC raised its position in 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 increased its position in shares of Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after purchasing an additional 10,703 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $277,000. Burns Matteson Capital Management LLC purchased a new position in shares of Robinhood Markets during the 1st quarter valued at about $495,000. Finally, Deutsche Bank AG lifted its position in Robinhood Markets by 137.6% in the 1st quarter. Deutsche Bank AG now owns 1,761,767 shares of the company’s stock worth $73,325,000 after buying an additional 1,020,286 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $109.32 on Friday. The stock’s 50-day moving average is $98.88 and its 200 day moving average is $68.20. The company has a market cap of $97.15 billion, a PE ratio of 55.49, a P/E/G ratio of 4.01 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $18.71 and a 1 year high of $117.70.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same period last year, the company earned $0.21 EPS. The business’s quarterly revenue was up 45.0% compared to the same quarter last year. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $104.23, for a total value of $2,605,750.00. Following the completion of the sale, the insider directly owned 566,887 shares of the company’s stock, valued at approximately $59,086,632.01. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 385,485 shares of Robinhood Markets stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total transaction of $39,280,921.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,644,685 shares of company stock valued at $448,881,884 over the last three months. Insiders own 14.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on HOOD shares. Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a research report on Thursday, July 31st. Citigroup increased their target price on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. boosted 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. Morgan Stanley upped their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $48.00 price objective (up previously from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

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.