Hsbc Holdings PLC Raises Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

Hsbc Holdings PLC increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOODFree Report) by 245.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 233,289 shares of the company’s stock after buying an additional 165,772 shares during the quarter. Hsbc Holdings PLC’s holdings in Robinhood Markets were worth $2,955,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Intech Investment Management LLC purchased a new position in shares of Robinhood Markets during the fourth quarter worth $229,000. Commerce Bank lifted its holdings in shares of Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after buying an additional 917 shares during the period. Gladstone Institutional Advisory LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter worth about $468,000. Norges Bank acquired a new stake in Robinhood Markets during the fourth quarter worth about $84,165,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Robinhood Markets by 37.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 32,382 shares of the company’s stock valued at $413,000 after acquiring an additional 8,796 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Baiju Bhatt sold 157,177 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $16.41, for a total value of $2,579,274.57. Following the completion of the sale, the insider now owns 36,045 shares of the company’s stock, valued at $591,498.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Baiju Bhatt sold 157,177 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $16.41, for a total value of $2,579,274.57. Following the transaction, the insider now directly owns 36,045 shares in the company, valued at $591,498.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $18.67, for a total value of $4,667,500.00. The disclosure for this sale can be found here. Insiders sold 1,276,851 shares of company stock valued at $23,340,794 in the last three months. 19.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on HOOD. Deutsche Bank Aktiengesellschaft upped their price objective on Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Keefe, Bruyette & Woods assumed coverage on shares of Robinhood Markets in a report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 price objective for the company. Bank of America raised shares of Robinhood Markets from an “underperform” rating to a “buy” rating and increased their target price for the stock from $14.00 to $24.00 in a research note on Friday, May 17th. TheStreet upgraded Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their price target on Robinhood Markets from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.75.

Check Out Our Latest Report on Robinhood Markets

Robinhood Markets Trading Up 3.8 %

HOOD opened at $21.57 on Thursday. The firm has a market capitalization of $18.96 billion, a PE ratio of 143.80 and a beta of 1.83. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $22.40. The firm’s 50-day moving average price is $18.68 and its 200 day moving average price is $14.92.

Robinhood Markets (NASDAQ:HOODGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The business had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. During the same period in the previous year, the firm posted ($0.57) EPS. The business’s revenue for the quarter was up 40.1% compared to the same quarter last year. As a group, analysts predict that Robinhood Markets, Inc. will post 0.53 earnings per share for the current fiscal year.

Robinhood Markets Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Robinhood Markets (NASDAQ:HOOD)

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