Cathie Wood Buys Robinhood Shares Again as Deutsche Bank Raises Price Target

Cathie Wood bought Robinhood shares again after nine days, adding 28,589 shares through the ARK Innovation ETF on September 4, worth about $3.5 million. According to Odaily, she had sold 25,009 shares on August 26. Robinhood has risen more than 30% over the past month, while Bitcoin has gained about 23% and approached $80,000. Deutsche Bank raised its price target on Robinhood from $115 to $136 on September 4 and kept a Buy rating, citing rapid growth in Robinhood Chain fee revenue. The bank said daily revenue climbed from less than $200,000 in mid-August to more than $3 million in early September, and it expects the annualized run rate to exceed $100 million. As of September 4, HOOD was the seventh-largest holding in the ARK Innovation ETF, with a 4.28% weighting. Wood also bought Veracyte, Intellia Therapeutics and the 3iQ Solana Staking ETF, while trimming Tempus AI and Twist Bioscience.