Aberdeen Group plc Raises Stake in Robinhood Markets, Inc. $HOOD

Aberdeen Group plc lifted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD) by 51.8% in the second quarter, HoldingsChannel reports. The fund owned 27,895 shares of the company’s stock after buying an additional 9,520 shares during the period. Aberdeen Group plc’s holdings in Robinhood Markets were worth $2,612,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. HighTower Advisors LLC raised its position in Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after purchasing an additional 3,032 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Robinhood Markets by 184.4% during the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock valued at $76,000 after buying an additional 1,186 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after buying an additional 486 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Robinhood Markets by 125.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after acquiring an additional 10,703 shares during the last quarter. Finally, Metavasi Capital LP boosted its holdings in Robinhood Markets by 275.0% during the 1st quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock valued at $3,122,000 after acquiring an additional 55,000 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on HOOD. Bank of America lifted their price target on Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group lifted their target price on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. JMP Securities increased their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Compass Point raised their price target on shares of Robinhood Markets from $64.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Finally, Cantor Fitzgerald upped their price objective on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.94.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $99.98, for a total value of $156,810,731.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,181,462 shares of company stock valued at $567,328,871. 14.47% of the stock is currently owned by company insiders.

Robinhood Markets Trading Down 1.2%

HOOD opened at $129.91 on Friday. The company has a market cap of $115.45 billion, a price-to-earnings ratio of 65.94, a price-to-earnings-growth ratio of 3.47 and a beta of 2.42. The stock has a fifty day simple moving average of $121.26 and a two-hundred day simple moving average of $88.95. Robinhood Markets, Inc. has a 12-month low of $23.00 and a 12-month high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. During the same period in the prior year, the firm earned $0.21 EPS. The company’s revenue was up 45.0% compared to the same quarter last year. On average, analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

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.