Aberdeen Group plc Invests $765,000 in Robinhood Markets, Inc. $HOOD

Key Points

• Aberdeen Group plc has invested approximately $765,000 in Robinhood Markets by acquiring 18,375 shares, reflecting growing institutional interest in the company.
• Insider transactions have been notable, with CEO Vladimir Tenev selling over 385,000 shares for around $39.3 million, indicating potential profit-taking by executives.
• Analysts have increased their price targets for Robinhood, with several firms elevating their expectations significantly, resulting in a consensus rating of "Moderate Buy" with an average target price of $100.31.

Aberdeen Group plc bought a new position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,375 shares of the company's stock, valued at approximately $765,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its holdings in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock valued at $440,000 after purchasing an additional 171 shares during the last quarter. Hemington Wealth Management increased its position in Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after buying an additional 218 shares during the period. Farther Finance Advisors LLC lifted its stake in Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock valued at $290,000 after buying an additional 265 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Robinhood Markets by 23.4% in the first quarter. Allworth Financial LP now owns 1,401 shares of the company's stock valued at $58,000 after acquiring an additional 266 shares during the period. Finally, HighPoint Advisor Group LLC grew its position in shares of Robinhood Markets by 0.8% during the first quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after acquiring an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 385,485 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $101.90, for a total value of $39,280,921.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $109.39, for a total transaction of $45,761,993.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,644,685 shares of company stock valued at $448,881,884. 14.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HOOD. Morgan Stanley increased their price target on shares of Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Needham & Company LLC raised their price target on Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Cantor Fitzgerald upped their price objective on Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. JMP Securities increased their price objective on Robinhood Markets from $125.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Robinhood Markets currently has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Robinhood Markets Trading Up 2.8%

Shares of HOOD traded up $3.02 during trading hours on Friday, reaching $109.32. The company had a trading volume of 39,820,141 shares, compared to its average volume of 41,865,128. Robinhood Markets, Inc. has a 12-month low of $18.71 and a 12-month high of $117.70. The firm has a 50 day simple moving average of $98.88 and a 200-day simple moving average of $68.10. The company has a market capitalization of $97.15 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 3.90 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The firm's revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share. Sell-side analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share 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.