Saudi Central Bank Grows Position in Robinhood Markets, Inc. $HOOD

Saudi Central Bank increased its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 89.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 52,539 shares of the company’s stock after purchasing an additional 24,866 shares during the period. Saudi Central Bank’s holdings in Robinhood Markets were worth $5,269,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. CYBER HORNET ETFs LLC boosted its holdings in shares of Robinhood Markets by 527.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 226 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Elyxium Wealth LLC purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $27,000. Swiss RE Ltd. purchased a new position in shares of Robinhood Markets during the fourth quarter valued at approximately $27,000. MV Capital Management Inc. bought a new position in Robinhood Markets during the fourth quarter valued at approximately $27,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Robinhood Markets during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the subject of a number of research analyst reports. Citizens Jmp reaffirmed a “market outperform” rating and issued a $155.00 target price on shares of Robinhood Markets in a research report on Thursday, July 30th. KeyCorp increased their price target on Robinhood Markets from $100.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Argus raised their price target on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Needham & Company LLC dropped their price target on Robinhood Markets from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. One research 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.67.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $122.11 on Monday. The company has a market capitalization 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, Inc. has a 1-year low of $63.51 and a 1-year high of $153.86. The firm’s 50 day simple moving average is $102.73 and its two-hundred day simple moving average is $88.34. 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 (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. Research analysts expect that Robinhood Markets, Inc. will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Baiju Bhatt sold 50,317 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $96.80, for a total transaction of $4,870,685.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $122.43, for a total value of $1,224,300.00. Following the sale, the insider directly owned 509,943 shares in the company, valued at $62,432,321.49. This trade represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 626,283 shares of company stock worth $69,070,083 in the last three months. 13.48% of the stock is owned by company insiders.

Key Stories Impacting 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 Company Profile

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.