EULAV Asset Management Raises Stake in Robinhood Markets, Inc. (NASDAQ:HOOD)

EULAV Asset Management increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 22.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,000 shares of the company's stock after purchasing an additional 100,000 shares during the period. EULAV Asset Management owned 0.06% of Robinhood Markets worth $12,881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Robinhood Markets in the 1st quarter valued at $34,000. Intech Investment Management LLC lifted its position in shares of Robinhood Markets by 60.1% in the first quarter. Intech Investment Management LLC now owns 28,819 shares of the company's stock worth $580,000 after buying an additional 10,820 shares in the last quarter. Vanguard Group Inc. boosted its stake in Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company's stock valued at $1,143,960,000 after buying an additional 1,003,535 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Robinhood Markets during the 1st quarter valued at approximately $270,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Robinhood Markets in the 1st quarter worth approximately $206,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HOOD shares. Piper Sandler upped their price target on shares of Robinhood Markets from $30.00 to $36.00 and gave the company an "overweight" rating in a research note on Monday. Sanford C. Bernstein increased their price target on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday. Citigroup boosted their price objective on Robinhood Markets from $19.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, September 27th. Bank of America upped their price objective on Robinhood Markets from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Finally, KeyCorp lifted their target price on Robinhood Markets from $25.00 to $30.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of "Moderate Buy" and an average price target of $28.66.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 105,875 shares of Robinhood Markets stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $3,176,250.00. Following the completion of the transaction, the director now directly owns 28,930,243 shares in the company, valued at approximately $867,907,290. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,710,549 shares of company stock valued at $115,477,194. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Stock Up 2.4 %

HOOD traded up $0.84 on Wednesday, reaching $36.08. 35,940,134 shares of the company traded hands, compared to its average volume of 16,220,673. The company has a market cap of $31.89 billion, a P/E ratio of 61.17, a price-to-earnings-growth ratio of 0.77 and a beta of 1.84. The firm has a fifty day simple moving average of $26.09 and a two-hundred day simple moving average of $22.62. Robinhood Markets, Inc. has a one year low of $7.96 and a one year high of $38.11.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to analysts' expectations of $660.53 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The firm's revenue for the quarter was up 36.4% on a year-over-year basis. On average, equities analysts forecast that Robinhood Markets, Inc. will post 0.72 earnings per share for the current 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.