Natixis Advisors LLC Makes New $536,000 Investment in Robinhood Markets, Inc. (NASDAQ:HOOD)

Natixis Advisors LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,604 shares of the company’s stock, valued at approximately $536,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. ORG Partners LLC acquired a new position in Robinhood Markets during the 2nd quarter worth approximately $33,000. Allspring Global Investments Holdings LLC acquired a new position in Robinhood Markets during the first quarter worth $34,000. International Assets Investment Management LLC bought a new position in shares of Robinhood Markets in the 2nd quarter valued at about $40,000. Finally, Opal Wealth Advisors LLC bought a new position in Robinhood Markets in the second quarter valued at approximately $45,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HOOD shares. Deutsche Bank Aktiengesellschaft raised shares of Robinhood Markets from a “hold” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $24.00 in a research report on Thursday, August 15th. 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 report on Monday, August 12th. Citigroup raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective on shares of Robinhood Markets in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Robinhood Markets currently has an average rating of “Hold” and a consensus price target of $22.83.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total transaction of $2,696,071.12. The disclosure for this sale can be found here. Insiders have sold 1,325,322 shares of company stock valued at $26,225,912 over the last ninety days. 19.95% of the stock is owned by company insiders.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $21.64 on Friday. The firm’s fifty day moving average is $20.56 and its 200-day moving average is $19.69. Robinhood Markets, Inc. has a 52 week low of $7.91 and a 52 week high of $24.88. The firm has a market cap of $19.02 billion, a P/E ratio of 144.27 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. Robinhood Markets’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. As a group, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.76 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.