Legal & General Group Plc Buys 1,301,503 Shares of Robinhood Markets, Inc. $HOOD

Legal & General Group Plc increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 61.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,427,760 shares of the company’s stock after buying an additional 1,301,503 shares during the period. Legal & General Group Plc owned about 0.39% of Robinhood Markets worth $320,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOOD. DNB Asset Management AS grew its position in shares of Robinhood Markets by 27.0% during the 2nd quarter. DNB Asset Management AS now owns 133,985 shares of the company’s stock valued at $12,545,000 after acquiring an additional 28,482 shares during the period. Entropy Technologies LP lifted its stake in Robinhood Markets by 4.3% in the second quarter. Entropy Technologies LP now owns 19,689 shares of the company’s stock valued at $1,843,000 after purchasing an additional 803 shares during the last quarter. Personal CFO Solutions LLC purchased a new position in Robinhood Markets in the second quarter valued at approximately $330,000. Marsico Capital Management LLC bought a new position in Robinhood Markets during the second quarter valued at $33,126,000. Finally, Handelsbanken Fonder AB increased its position in Robinhood Markets by 66.7% in the second quarter. Handelsbanken Fonder AB now owns 226,197 shares of the company’s stock worth $21,179,000 after buying an additional 90,497 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on HOOD. Zacks Research cut Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Dbs Bank raised shares of Robinhood Markets to a “moderate buy” rating in a report on Wednesday, November 12th. Piper Sandler reiterated an “overweight” rating and set a $140.00 target price (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. KeyCorp lifted their target price on shares of Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Robinhood Markets in a research report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.95.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 1,330,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $128.47, for a total value of $170,865,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total value of $104,797,500.00. The SEC filing for this sale provides additional information. Insiders have sold 5,134,080 shares of company stock valued at $626,549,514 in the last ninety days. Corporate insiders own 14.47% of the company’s stock.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $107.30 on Friday. The company’s 50 day simple moving average is $132.32 and its two-hundred day simple moving average is $105.01. Robinhood Markets, Inc. has a 1 year low of $29.66 and a 1 year high of $153.86. The stock has a market capitalization of $96.48 billion, a PE ratio of 44.52, a P/E/G ratio of 2.41 and a beta of 2.42.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The business’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. On average, research analysts anticipate 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.