Rathbones Group PLC Takes $344,000 Position in Robinhood Markets, Inc. $HOOD

Rathbones Group PLC bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,675 shares of the company’s stock, valued at approximately $344,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. WCM Investment Management LLC raised its stake in shares of Robinhood Markets by 3,615.7% during the second quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock worth $1,081,910,000 after purchasing an additional 11,244,182 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Robinhood Markets during the 2nd quarter worth $951,479,000. Vanguard Group Inc. lifted its stake in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company’s stock worth $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. AGF Management Ltd. boosted its holdings in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company’s stock valued at $239,053,000 after acquiring an additional 4,255,862 shares in the last quarter. Finally, Wealthquest Corp acquired a new position in shares of Robinhood Markets during the first quarter worth about $156,193,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 1,330,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total transaction of $6,066,002.83. Following the sale, the insider owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. This trade represents a 38.89% 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 4,715,742 shares of company stock valued at $574,788,553. Company insiders own 19.95% of the company’s stock.

Wall Street Analyst Weigh In

HOOD has been the topic of a number of analyst reports. Bank of America lifted their price objective on Robinhood Markets from $139.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. KeyCorp upped their price objective on Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Zacks Research downgraded Robinhood Markets from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. JMP Securities upped their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Finally, Loop Capital set a $161.00 price objective on shares of Robinhood Markets in a research note on Monday, October 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.65.

Robinhood Markets Trading Down 2.9%

Shares of HOOD opened at $131.93 on Wednesday. Robinhood Markets, Inc. has a 12-month low of $29.66 and a 12-month high of $153.86. The stock has a market cap of $117.24 billion, a P/E ratio of 54.74, a PEG ratio of 3.17 and a beta of 2.42. The company has a 50-day moving average of $131.37 and a two-hundred day moving average of $101.53.

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

Robinhood Markets Company 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.