Sparta 24 Ltd. Acquires New Holdings in Robinhood Markets, Inc. (NASDAQ:HOOD)

Sparta 24 Ltd. bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 161,580 shares of the company’s stock, valued at approximately $3,669,000. Robinhood Markets makes up about 3.3% of Sparta 24 Ltd.’s portfolio, making the stock its 9th largest holding.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after acquiring an additional 1,003,535 shares in the last quarter. Banque Cantonale Vaudoise raised its position in shares of Robinhood Markets by 21,404.0% in the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after purchasing an additional 96,318 shares during the period. UniSuper Management Pty Ltd lifted its stake in shares of Robinhood Markets by 87.1% in the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock worth $117,000 after buying an additional 2,700 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Robinhood Markets during the 4th quarter worth $8,299,000. Finally, SG Americas Securities LLC grew its stake in Robinhood Markets by 62.5% in the 1st quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock valued at $5,711,000 after buying an additional 109,059 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now directly owns 956,247 shares of the company’s stock, valued at $21,802,431.60. The disclosure for this sale can be found here. In 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.

Robinhood Markets Trading Up 3.8 %

NASDAQ HOOD opened at $19.66 on Tuesday. Robinhood Markets, Inc. has a 1-year low of $7.91 and a 1-year high of $24.88. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 131.07 and a beta of 1.83. The stock’s 50 day moving average is $20.68 and its two-hundred day moving average is $19.63.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the previous year, the firm earned $0.03 EPS. Robinhood Markets’s quarterly revenue was up 40.3% on a year-over-year basis. On average, analysts predict that Robinhood Markets, Inc. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HOOD shares. KeyCorp upped their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Barclays upgraded Robinhood Markets from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $18.00 to $20.00 in a research note on Friday. Piper Sandler raised Robinhood Markets from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $23.00 in a research report on Monday, August 12th. Citigroup raised Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price objective for the company in a research report on Monday, August 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.83.

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.