Prudential PLC Purchases 21,199 Shares of Robinhood Markets, Inc. $HOOD

Prudential PLC increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 50.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,895 shares of the company’s stock after purchasing an additional 21,199 shares during the quarter. Prudential PLC’s holdings in Robinhood Markets were worth $5,889,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HOOD. Vanguard Group Inc. boosted its holdings in shares of Robinhood Markets by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock worth $7,079,564,000 after acquiring an additional 1,371,051 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Robinhood Markets by 4.0% in the second quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock valued at $1,233,840,000 after buying an additional 507,926 shares in the last quarter. 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 bought a new position in shares of Robinhood Markets in the second quarter valued at about $951,479,000. Finally, AGF Management Ltd. lifted 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 worth $239,053,000 after buying an additional 4,255,862 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Stock Up 1.0%

HOOD stock opened at $107.30 on Friday. Robinhood Markets, Inc. has a twelve month low of $29.66 and a twelve month high of $153.86. The company has a market cap of $96.48 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 2.39 and a beta of 2.42. The business’s fifty day moving average is $132.32 and its 200-day moving average is $104.62.

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

Insider Buying and Selling

In related news, insider Steven M. Quirk sold 48,350 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $140.61, for a total transaction of $6,798,493.50. Following the completion of the transaction, the insider owned 70,279 shares in the company, valued at approximately $9,881,930.19. The trade was a 40.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,134,080 shares of company stock worth $626,549,514 over the last quarter. Insiders own 14.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HOOD shares. Loop Capital set a $161.00 target price on shares of Robinhood Markets in a research note on Monday, October 27th. Mizuho upped their price objective on Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. The Goldman Sachs Group increased their price objective on Robinhood Markets from $134.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Citizens Jmp boosted their target price on Robinhood Markets from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Finally, JMP Securities raised their price target on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, October 9th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.95.

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.