Sparta 24 Ltd. Takes Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sparta 24 Ltd. acquired a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 161,580 shares of the company’s stock, valued at approximately $3,669,000. Robinhood Markets comprises approximately 3.3% of Sparta 24 Ltd.’s investment portfolio, making the stock its 9th largest position.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Robinhood Markets by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after acquiring an additional 1,003,535 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in Robinhood Markets by 9.6% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after buying an additional 2,486,986 shares during the period. Norges Bank bought a new position in Robinhood Markets during the fourth quarter worth about $84,165,000. Dimensional Fund Advisors LP grew its position in shares of Robinhood Markets by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock worth $59,559,000 after buying an additional 672,648 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Robinhood Markets by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock valued at $54,749,000 after acquiring an additional 193,585 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a legal 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 the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total value of $4,815,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason Warnick sold 25,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $20.96, for a total transaction of $524,000.00. Following the transaction, the chief financial officer now owns 1,077,162 shares in the company, valued at $22,577,315.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,185,406 shares of company stock valued at $23,490,554. 19.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HOOD. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods decreased their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised Robinhood Markets from a “hold” rating to a “buy” rating and raised their price objective for the stock 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 company a “neutral” rating in a research note on Thursday, July 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Robinhood Markets in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.83.

Robinhood Markets Stock Up 3.8 %

Shares of HOOD opened at $19.66 on Tuesday. The company has a 50 day moving average of $20.68 and a 200-day moving average of $19.63. The stock has a market capitalization of $17.39 billion, a P/E ratio of 131.07 and a beta of 1.83. Robinhood Markets, Inc. has a twelve month low of $7.91 and a twelve month high of $24.88.

Robinhood Markets (NASDAQ:HOOD) last released its 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. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. During the same quarter last year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Robinhood Markets Company 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.