Zurcher Kantonalbank Zurich Cantonalbank Purchases 14,445 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,366 shares of the company’s stock after acquiring an additional 14,445 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Robinhood Markets were worth $5,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in shares of Robinhood Markets by 134.4% in the 4th quarter. Van ECK Associates Corp now owns 150,469 shares of the company’s stock valued at $1,917,000 after purchasing an additional 86,288 shares during the period. Victory Capital Management Inc. grew its stake in shares of Robinhood Markets by 12.5% in the 4th quarter. Victory Capital Management Inc. now owns 59,116 shares of the company’s stock valued at $753,000 after purchasing an additional 6,551 shares during the period. Axxcess Wealth Management LLC grew its stake in shares of Robinhood Markets by 14.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 25,115 shares of the company’s stock valued at $320,000 after purchasing an additional 3,117 shares during the period. Vestmark Advisory Solutions Inc. bought a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $6,905,000. Finally, National Bank of Canada FI grew its stake in shares of Robinhood Markets by 94,500.0% in the 4th quarter. National Bank of Canada FI now owns 94,600 shares of the company’s stock valued at $1,170,000 after purchasing an additional 94,500 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $21.25, for a total value of $106,250.00. Following the sale, the chief financial officer now owns 1,066,241 shares of the company’s stock, valued at $22,657,621.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 transaction of $4,012,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $21.25, for a total value of $106,250.00. Following the transaction, the chief financial officer now directly owns 1,066,241 shares in the company, valued at approximately $22,657,621.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,190,406 shares of company stock valued at $24,060,804. 19.95% of the stock is owned by company insiders.

Robinhood Markets Price Performance

Shares of HOOD stock traded down $0.06 during trading hours on Friday, reaching $20.11. The company had a trading volume of 5,434,129 shares, compared to its average volume of 15,957,490. The company has a 50 day moving average of $21.07 and a 200 day moving average of $19.24. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 133.47 and a beta of 1.83. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, sell-side analysts forecast that Robinhood Markets, Inc. will post 0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HOOD shares. Deutsche Bank Aktiengesellschaft upgraded Robinhood Markets from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $24.00 in a research note on Thursday, August 15th. The Goldman Sachs Group boosted their target price on Robinhood Markets from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Mizuho boosted their target price on Robinhood Markets from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Citigroup raised 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. Finally, Piper Sandler raised Robinhood Markets from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $23.00 in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.70.

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.