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J. Safra Sarasin Holding AG lowered its position in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 51.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,500 shares of the company’s stock after selling 2,700 shares during the period. J. Safra Sarasin Holding AG’s holdings in Robinhood Markets were worth $234,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Robinhood Markets during the 4th quarter valued at $588,000. NBC Securities Inc. grew its holdings in shares of Robinhood Markets by 155,600.0% during the first quarter. NBC Securities Inc. now owns 1,557 shares of the company’s stock worth $64,000 after purchasing an additional 1,556 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Robinhood Markets by 31.7% in the first quarter. Merit Financial Group LLC now owns 23,625 shares of the company’s stock valued at $983,000 after buying an additional 5,686 shares in the last quarter. Magnus Financial Group LLC bought a new position in shares of Robinhood Markets in the first quarter valued at about $221,000. Finally, City State Bank lifted its position in Robinhood Markets by 94.0% during the 1st quarter. City State Bank now owns 970 shares of the company’s stock worth $40,000 after buying an additional 470 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Robinhood Markets news, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $124.13, for a total transaction of $727,898.32. Following the sale, the chief technology officer directly owned 17,816 shares of the company’s stock, valued at $2,211,500.08. This represents a 24.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,650,598 shares of company stock worth $613,676,575. Corporate insiders own 19.95% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on HOOD shares. Citigroup raised their price objective on shares of Robinhood Markets from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Bank of America increased their price target on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective (up previously from $120.00) on shares of Robinhood Markets in a report on Tuesday, September 23rd. Finally, Morgan Stanley increased their price objective on Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus price target of $113.59.
View Our Latest Analysis on HOOD
Robinhood Markets Price Performance
Shares of Robinhood Markets stock opened at $148.67 on Monday. Robinhood Markets, Inc. has a 1 year low of $22.61 and a 1 year high of $150.21. The business has a 50-day moving average of $114.45 and a two-hundred day moving average of $82.87. The company has a market capitalization of $132.12 billion, a P/E ratio of 75.47, a price-to-earnings-growth ratio of 4.13 and a beta of 2.42.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS 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 company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. During the same quarter last year, the firm posted $0.21 earnings per share. Robinhood Markets’s revenue was up 45.0% compared to the same quarter last year. On average, equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.
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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