Atika Capital Management LLC Acquires 75,100 Shares of Robinhood Markets, Inc. $HOOD

Atika Capital Management LLC raised its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 52.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,100 shares of the company’s stock after purchasing an additional 75,100 shares during the period. Robinhood Markets accounts for 2.0% of Atika Capital Management LLC’s portfolio, making the stock its 17th largest position. Atika Capital Management LLC’s holdings in Robinhood Markets were worth $20,421,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HOOD. Vanguard Group Inc. grew its stake in shares of Robinhood Markets by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after buying an additional 1,371,051 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock worth $1,233,840,000 after acquiring an additional 507,926 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after acquiring an additional 11,244,182 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Robinhood Markets during the second quarter valued at $951,479,000. Finally, AGF Management Ltd. raised its position in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after purchasing an additional 4,255,862 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Quirk sold 60,113 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider directly owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,970,272 shares of company stock worth $505,742,993. 14.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on HOOD shares. Cantor Fitzgerald increased their price objective on shares of Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. CICC Research started coverage on shares of Robinhood Markets in a research note on Monday, October 27th. They issued an “outperform” rating and a $155.00 target price on the stock. Barclays raised their price target on shares of Robinhood Markets from $162.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Citizens Jmp upped their price objective on Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a research note on Wednesday, November 19th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.95.

Robinhood Markets Price Performance

Shares of HOOD opened at $128.20 on Thursday. The firm has a market capitalization of $115.28 billion, a P/E ratio of 53.20, a PEG ratio of 2.60 and a beta of 2.42. Robinhood Markets, Inc. has a one year low of $29.66 and a one year high of $153.86. The business has a fifty day moving average of $132.48 and a 200 day moving average of $106.41.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.20. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The business’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. Analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

About Robinhood Markets

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.