Aberdeen Group plc Has $2.61 Million Position in Robinhood Markets, Inc. $HOOD

Key Points

• Aberdeen Group plc increased its stake in Robinhood Markets, Inc. by 51.8% in the second quarter, now holding shares worth $2.61 million.
• Robinhood Markets beat earnings expectations by reporting $0.42 EPS, exceeding the consensus estimate of $0.30, with revenues of $989 million for the quarter.
• Several analysts have raised their price targets for Robinhood Markets, with Mizuho and Needham & Company setting new targets at $145.00 and Citizens Jmp at $170.00, indicating a positive outlook for the stock.

Aberdeen Group plc boosted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 51.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,895 shares of the company's stock after purchasing an additional 9,520 shares during the quarter. Aberdeen Group plc's holdings in Robinhood Markets were worth $2,612,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hemington Wealth Management raised its position in shares of 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 purchasing an additional 218 shares during the period. Wayfinding Financial LLC acquired a new position in Robinhood Markets during the first quarter worth $30,000. Pandora Wealth Inc. acquired a new position in shares of Robinhood Markets during the first quarter valued at about $33,000. V Square Quantitative Management LLC acquired a new position in shares of Robinhood Markets during the second quarter valued at about $36,000. Finally, Colonial Trust Advisors increased its position in shares of Robinhood Markets by 125.0% during the first quarter. Colonial Trust Advisors now owns 900 shares of the company's stock worth $37,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $129.91 on Friday. The business's fifty day moving average is $121.26 and its 200 day moving average is $88.95. The firm has a market cap of $115.45 billion, a price-to-earnings ratio of 65.94, a PEG ratio of 3.47 and a beta of 2.42. Robinhood Markets, Inc. has a 52-week low of $23.00 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm had revenue of $989.00 million for the quarter, compared to analysts' expectations of $893.93 million. During the same quarter last year, the firm posted $0.21 EPS. The company's revenue was up 45.0% compared to the same quarter last year. Equities analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Meyer Malka sold 1,093,288 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $103.87, for a total value of $113,559,824.56. Following the completion of the transaction, the director owned 3,976,234 shares of the company's stock, valued at $413,011,425.58. The trade was a 21.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 1,568,421 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total transaction of $156,810,731.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,181,462 shares of company stock worth $567,328,871. 14.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC lifted their price target on Robinhood Markets from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Robinhood Markets in a report on Wednesday, October 8th. Piper Sandler reissued an "overweight" rating and issued a $140.00 price target (up from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Mizuho lifted their price objective on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Finally, Citizens Jmp increased their target price on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "mkt outperform" rating in a report on Thursday, October 9th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $118.94.

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.

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