TD Waterhouse Canada Inc. Has $5.80 Million Position in Robinhood Markets, Inc. $HOOD

TD Waterhouse Canada Inc. boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 51.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 53,324 shares of the company’s stock after acquiring an additional 18,033 shares during the period. TD Waterhouse Canada Inc.’s holdings in Robinhood Markets were worth $5,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Robinhood Markets by 86.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 100,849 shares of the company’s stock valued at $11,406,000 after buying an additional 46,688 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Robinhood Markets by 196.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 722,857 shares of the company’s stock worth $81,755,000 after buying an additional 478,919 shares during the last quarter. Swiss Life Asset Management Ltd raised its position in shares of Robinhood Markets by 107.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 272,604 shares of the company’s stock worth $30,832,000 after acquiring an additional 141,440 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co lifted its stake in Robinhood Markets by 17.6% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 120,000 shares of the company’s stock valued at $13,572,000 after buying an additional 18,000 shares during the period. Finally, Ethic Inc. increased its stake in shares of Robinhood Markets by 27.1% in the 4th quarter. Ethic Inc. now owns 62,482 shares of the company’s stock valued at $7,067,000 after acquiring an additional 13,321 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 375,000 shares of Robinhood Markets stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $116.17, for a total value of $43,563,750.00. Following the completion of the transaction, the chief executive officer owned 375,000 shares of the company’s stock, valued at $43,563,750. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $90.42, for a total value of $904,200.00. Following the completion of the transaction, the insider directly owned 461,396 shares in the company, valued at $41,719,426.32. This trade represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 626,283 shares of company stock worth $69,070,083. 13.48% of the stock is owned by insiders.

Trending Headlines about Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
• Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
• Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million

Robinhood Markets Price Performance

Shares of HOOD opened at $122.11 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86. The stock has a 50 day simple moving average of $102.73 and a two-hundred day simple moving average of $88.34. The firm has a market cap of $109.79 billion, a P/E ratio of 53.79, a P/E/G ratio of 2.50 and a beta of 2.34.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 32.5% on a year-over-year basis. On average, analysts forecast that Robinhood Markets, Inc. will post 2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $124.00 to $150.00 in a report on Tuesday, September 1st. Piper Sandler reissued an “overweight” rating and set a $145.00 target price (up from $135.00) on shares of Robinhood Markets in a research report on Wednesday. Sanford C. Bernstein boosted their price target on shares of Robinhood Markets from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Scotiabank started coverage on Robinhood Markets in a research note on Wednesday, September 2nd. They issued a “sector outperform” rating and a $136.00 price objective on the stock. Finally, Barclays dropped their price objective on shares of Robinhood Markets from $122.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.67.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.