Prospera Financial Services Inc Makes New Investment in Robinhood Markets, Inc. $HOOD

Prospera Financial Services Inc acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,448 shares of the company’s stock, valued at approximately $510,000.

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

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 1,330,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $128.47, for a total transaction of $170,865,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 4,297,404 shares of company stock valued at $529,026,559. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Up 0.8%

HOOD opened at $122.50 on Friday. 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 $110.15 billion, a P/E ratio of 50.83, a price-to-earnings-growth ratio of 2.78 and a beta of 2.42. The firm’s 50-day moving average price is $132.81 and its 200-day moving average price is $102.40.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on HOOD. Keefe, Bruyette & Woods upped their target price on Robinhood Markets from $121.00 to $135.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. The Goldman Sachs Group upped their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Citizens Jmp raised their price objective on Robinhood Markets from $170.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Robinhood Markets in a report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and set a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Fourteen research 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.com, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.65.

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.