Jupiter Asset Management Ltd. Raises Stock Holdings in Robinhood Markets, Inc. $HOOD

Jupiter Asset Management Ltd. grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 314.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,666 shares of the company’s stock after acquiring an additional 241,699 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Robinhood Markets were worth $29,837,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. WCM Investment Management LLC raised its holdings in shares of Robinhood Markets by 3,615.7% in the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after buying an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth about $951,479,000. AGF Management Ltd. boosted its stake in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock worth $239,053,000 after buying an additional 4,255,862 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Robinhood Markets by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company’s stock worth $201,913,000 after buying an additional 131,620 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HOOD. Compass Point reaffirmed a “buy” rating on shares of Robinhood Markets in a research report on Monday, October 27th. Loop Capital set a $161.00 price target on Robinhood Markets in a report on Monday, October 27th. Morgan Stanley raised their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. JMP Securities lifted their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Finally, The Goldman Sachs Group increased their price target on shares of Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and a consensus target price of $132.65.

Robinhood Markets Stock Up 0.8%

Shares of HOOD stock opened at $132.98 on Thursday. The stock has a market cap of $118.18 billion, a P/E ratio of 55.18, a P/E/G ratio of 3.02 and a beta of 2.42. Robinhood Markets, Inc. has a fifty-two week low of $29.66 and a fifty-two week high of $153.86. The business has a fifty day simple moving average of $132.01 and a 200-day simple moving average of $101.75.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm’s revenue was up 100.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. On average, sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $103.87, for a total transaction of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares of the company’s stock, valued at approximately $413,011,425.58. This trade represents a 21.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the completion of the sale, the insider owned 565,949 shares in the company, valued at $83,952,874.66. This represents a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,297,404 shares of company stock worth $529,026,559. 14.47% of the stock is currently owned by 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.