Allianz Asset Management GmbH Has $61.90 Million Stock Holdings in Robinhood Markets, Inc. $HOOD

Allianz Asset Management GmbH lowered its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 14.8% during the second quarter, Holdings Channel reports. The firm owned 661,088 shares of the company’s stock after selling 114,777 shares during the period. Allianz Asset Management GmbH’s holdings in Robinhood Markets were worth $61,898,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hemington Wealth Management lifted its position in shares of Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Robinhood Markets in the 1st quarter worth approximately $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets in the 1st quarter worth approximately $33,000. V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets in the 2nd quarter worth approximately $36,000. Finally, Colonial Trust Advisors lifted its position in shares of Robinhood Markets by 125.0% in the 1st quarter. Colonial Trust Advisors now owns 900 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Robinhood Markets Trading Down 1.2%

Shares of HOOD stock opened at $129.91 on Friday. The firm has a market capitalization of $115.45 billion, a PE ratio of 65.94, a price-to-earnings-growth ratio of 3.47 and a beta of 2.42. The firm 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. Robinhood Markets’s quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. On average, equities analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HOOD. Cantor Fitzgerald boosted their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. KeyCorp lifted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Bank of America lifted their price objective on shares of Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Needham & Company LLC lifted their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.94.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $119.42, for a total transaction of $49,957,923.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,181,462 shares of company stock worth $567,328,871 in the last ninety days. 14.47% of the stock is currently owned by corporate insiders.

Robinhood Markets 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.