2,254,664 Shares in Robinhood Markets, Inc. $HOOD Bought by Jennison Associates LLC

Key Points

• Jennison Associates LLC purchased a new stake of 2,254,664 shares of Robinhood (NASDAQ:HOOD) in Q3, valued at approximately $322.8 million and representing about 0.25% of the company.
• Company insiders have sold 2,878,425 shares (~$358.3 million) in the past 90 days — including director Baiju Bhatt’s sale of 1,330,000 shares (~$170.9 million) — though insiders still own 14.47% of the stock.
• Robinhood beat Q3 estimates (EPS $0.61 vs. $0.41; revenue $1.27B vs. $1.15B) with revenue up 100% YoY and strong margins, and analysts have an average rating of "Moderate Buy" with an average price target of $136.62 (several targets as high as $170).

Jennison Associates LLC purchased a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,254,664 shares of the company's stock, valued at approximately $322,823,000. Jennison Associates LLC owned 0.25% of Robinhood Markets at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lockheed Martin Investment Management Co. acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $745,000. Teacher Retirement System of Texas raised its holdings in shares of Robinhood Markets by 5.4% in the third quarter. Teacher Retirement System of Texas now owns 117,010 shares of the company's stock valued at $16,753,000 after purchasing an additional 5,967 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Robinhood Markets by 87.6% in the third quarter. Parkside Financial Bank & Trust now owns 739 shares of the company's stock worth $106,000 after purchasing an additional 345 shares in the last quarter. Proem Advisors LLC lifted its position in shares of Robinhood Markets by 2,458.5% in the third quarter. Proem Advisors LLC now owns 40,000 shares of the company's stock worth $5,727,000 after purchasing an additional 41,696 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC acquired a new position in Robinhood Markets during the third quarter worth $224,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HOOD. Keefe, Bruyette & Woods lifted their price target on shares of Robinhood Markets from $121.00 to $135.00 and gave the company a "market perform" rating in a research note on Thursday, November 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Robinhood Markets in a report on Monday, December 22nd. KeyCorp upped their target price on Robinhood Markets from $135.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday, October 31st. CICC Research initiated coverage on Robinhood Markets in a research report on Monday, October 27th. They set an "outperform" rating and a $155.00 price target for the company. Finally, JMP Securities boosted their price target on Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $136.62.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $106.99 on Friday. The stock has a 50-day simple moving average of $118.95 and a 200 day simple moving average of $119.50. The stock has a market capitalization of $96.20 billion, a P/E ratio of 44.39, a PEG ratio of 1.67 and a beta of 2.44. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.20. The company 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 business's revenue was up 100.0% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. Research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the company's stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total value of $15,855,600.00. Following the transaction, the insider owned 430,012 shares in the company, valued at approximately $56,817,485.56. This represents a 21.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 1,330,000 shares of the firm's stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $128.47, for a total transaction of $170,865,100.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,878,425 shares of company stock valued at $358,332,025 in the last ninety days. Company insiders own 14.47% of the company's stock.

Robinhood Markets Profile

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.

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