Itau Unibanco Holding S.A. Purchases 30,906 Shares of Robinhood Markets, Inc. $HOOD

Itau Unibanco Holding S.A. grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 526.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,778 shares of the company’s stock after buying an additional 30,906 shares during the period. Itau Unibanco Holding S.A.’s holdings in Robinhood Markets were worth $3,444,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company’s stock worth $25,000 after purchasing an additional 148 shares during the period. Hemington Wealth Management grew its stake in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after buying an additional 218 shares during the last quarter. Smithfield Trust Co bought a new position in Robinhood Markets during the 2nd quarter valued at approximately $29,000. Pandora Wealth Inc. bought a new stake in Robinhood Markets in the first quarter worth $33,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Robinhood Markets in the second quarter worth $36,000. 93.27% of the stock is currently owned by institutional investors.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $145.95, for a total value of $3,648,750.00. Following the transaction, the insider directly owned 540,949 shares in the company, valued at $78,951,506.55. The trade was a 4.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,297,404 shares of company stock worth $529,026,559 in the last ninety days. Corporate insiders own 14.47% of the company’s stock.

Analysts Set New Price Targets

HOOD has been the topic of a number of analyst reports. Cantor Fitzgerald upped their price target on shares of Robinhood Markets from $130.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Robinhood Markets in a report on Thursday. Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a research report on Wednesday. Loop Capital set a $161.00 price objective on Robinhood Markets in a research report on Monday, October 27th. Finally, Needham & Company LLC lifted their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.65.

Robinhood Markets Price Performance

Shares of HOOD opened at $122.50 on Friday. The firm has a market cap of $110.15 billion, a P/E ratio of 50.83, a price-to-earnings-growth ratio of 2.80 and a beta of 2.42. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The company has a 50 day simple moving average of $132.81 and a two-hundred day simple moving average of $102.77.

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