Acadian Asset Management LLC Grows Holdings in Robinhood Markets, Inc. $HOOD

Acadian Asset Management LLC grew its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 293.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 144,791 shares of the company's stock after acquiring an additional 108,001 shares during the quarter. Acadian Asset Management LLC's holdings in Robinhood Markets were worth $6,018,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC lifted its position in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the last quarter. Hemington Wealth Management grew its stake 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 acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Robinhood Markets in the first quarter valued at approximately $30,000. Pandora Wealth Inc. purchased a new stake in Robinhood Markets in the first quarter valued at approximately $33,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company's stock valued at $36,000 after acquiring an additional 498 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $93.27, for a total value of $69,952,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the sale, the insider owned 591,887 shares of the company's stock, valued at $59,170,943.39. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,773,719 shares of company stock valued at $589,293,510. 14.47% of the stock is owned by insiders.

Robinhood Markets Stock Down 2.3%

Shares of NASDAQ:HOOD opened at $115.03 on Friday. The company has a market cap of $102.22 billion, a P/E ratio of 58.39, a P/E/G ratio of 4.32 and a beta of 2.36. Robinhood Markets, Inc. has a 52 week low of $21.50 and a 52 week high of $123.44. The business has a fifty day simple moving average of $105.99 and a 200-day simple moving average of $73.63.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $893.93 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. Sell-side analysts expect that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on HOOD shares. Piper Sandler assumed coverage on Robinhood Markets in a research report on Wednesday. They set an "overweight" rating and a $120.00 price target for the company. Morgan Stanley increased their price target on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho increased their target price on Robinhood Markets from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $89.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $101.88.

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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