Ninety One UK Ltd Takes Position in Robinhood Markets, Inc. $HOOD

Ninety One UK Ltd bought a new position in Robinhood Markets, Inc. (NASDAQ:HOOD) during the third quarter, Holdings Channel.com reports. The institutional investor bought 1,066,731 shares of the company’s stock, valued at approximately $152,735,000.

Other large investors have also recently modified their holdings of the company. XML Financial LLC bought a new position in shares of Robinhood Markets in the third quarter worth approximately $285,000. Delta Investment Management LLC purchased a new position in Robinhood Markets in the 3rd quarter worth approximately $274,000. Accurate Wealth Management LLC grew its stake in Robinhood Markets by 75.5% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,653 shares of the company’s stock worth $493,000 after buying an additional 1,572 shares in the last quarter. Heritage Oak Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the 3rd quarter worth $332,000. Finally, Stonebridge Financial Group LLC purchased a new position in Robinhood Markets in the third quarter worth $206,000. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HOOD shares. Mizuho raised their price target on Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Loop Capital set a $152.00 price objective on Robinhood Markets in a report on Thursday, December 11th. Truist Financial initiated coverage on Robinhood Markets in a research note on Wednesday, December 17th. They issued a “buy” rating and a $155.00 target price for the company. Barclays upped their price objective on shares of Robinhood Markets from $168.00 to $171.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Finally, Dbs Bank upgraded shares of Robinhood Markets to a “moderate buy” rating in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.80.

Robinhood Markets Stock Down 2.0%

Shares of NASDAQ HOOD opened at $113.10 on Thursday. The firm’s fifty day moving average is $126.82 and its 200 day moving average is $116.35. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The company has a market cap of $101.70 billion, a price-to-earnings ratio of 46.93, a PEG ratio of 2.11 and a beta of 2.43.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20. The business had revenue of $1.27 billion for 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 company’s revenue was up 100.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. Equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 418,338 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $116.56, for a total transaction of $48,761,477.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,864 shares of Robinhood Markets stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $122.39, for a total transaction of $717,694.96. Following the completion of the sale, the chief technology officer owned 20,861 shares in the company, valued at approximately $2,553,177.79. This trade represents a 21.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,936,763 shares of company stock valued at $371,050,559 in the last 90 days. 14.47% of the stock is owned by corporate insiders.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.