Styrax Capital LP Makes New $30.08 Million Investment in Robinhood Markets, Inc. $HOOD

Styrax Capital LP purchased a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 300,000 shares of the company’s stock, valued at approximately $30,084,000. Robinhood Markets makes up 2.0% of Styrax Capital LP’s holdings, making the stock its 15th largest holding.

Several other large investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of Robinhood Markets by 2.7% during the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock valued at $3,746,036,000 after acquiring an additional 875,297 shares during the period. Geode Capital Management LLC grew its holdings in Robinhood Markets by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock worth $2,386,944,000 after purchasing an additional 356,902 shares during the period. Morgan Stanley increased its stake in Robinhood Markets by 23.9% in the fourth quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after purchasing an additional 2,061,832 shares in the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $1,202,160,000. Finally, Invesco Ltd. raised its holdings in shares of Robinhood Markets by 12.7% during the fourth quarter. Invesco Ltd. now owns 6,975,556 shares of the company’s stock valued at $788,935,000 after purchasing an additional 784,433 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Down 2.1%

Shares of Robinhood Markets stock opened at $122.11 on Friday. The firm has a market cap of $109.79 billion, a PE 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 company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a fifty day moving average price of $102.73 and a 200-day moving average price of $88.26.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Robinhood Markets from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Zacks Research raised Robinhood Markets from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Sanford C. Bernstein raised their price objective on Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Wall Street Zen upgraded Robinhood Markets from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Finally, China Renaissance initiated coverage on Robinhood Markets in a report on Tuesday, July 7th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.67.

Insider Activity

In other news, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $116.17, for a total transaction of $43,563,750.00. Following the completion of the sale, the chief executive officer owned 375,000 shares in the company, valued at $43,563,750. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Quirk sold 24,416 shares of Robinhood Markets stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $120.33, for a total transaction of $2,937,977.28. Following the completion of the sale, the insider directly owned 77,839 shares in the company, valued at $9,366,366.87. This trade represents a 23.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 626,283 shares of company stock worth $69,070,083. 13.48% of the stock is owned by insiders.

Key Headlines 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.