Asset Planning Inc Takes $400,000 Position in Robinhood Markets, Inc. $HOOD

Key Points

• Asset Planning Inc has taken a new position in Robinhood Markets by acquiring 4,270 shares valued at roughly $400,000.
• Significant institutional investments have occurred, with Kingstone Capital Partners purchasing a stake worth approximately $951,479,000 during the same quarter.
• Several analysts have revised their price targets for Robinhood Markets, with Mizuho and Needham & Company both raising their targets to $145.00 and others ranging from $130.00 to $170.00.

Asset Planning Inc bought a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,270 shares of the company's stock, valued at approximately $400,000.

A number of other large investors have also recently modified their holdings of HOOD. Kingstone Capital Partners Texas LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter valued at about $951,479,000. Vanguard Group Inc. lifted its position in Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after acquiring an additional 5,874,701 shares during the period. 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 valued at $239,053,000 after acquiring an additional 4,255,862 shares during the period. Wealthquest Corp purchased a new position in Robinhood Markets during the 1st quarter valued at about $156,193,000. Finally, Altimeter Capital Management LP purchased a new position in Robinhood Markets during the 1st quarter valued at about $120,103,000. Institutional investors own 93.27% of the company's stock.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 1,568,421 shares of Robinhood Markets stock in a transaction on Friday, August 1st. The shares were sold at an average price of $99.98, for a total value of $156,810,731.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $139.73, for a total transaction of $104,797,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681,122 shares of company stock valued at $618,215,681. Company insiders own 14.47% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Mizuho lifted their target price 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. Needham & Company LLC lifted their target price on shares of Robinhood Markets from $120.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Citizens Jmp lifted their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a "mkt outperform" rating in a research note on Thursday. Citigroup lifted their price target on shares of Robinhood Markets from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Finally, Morgan Stanley lifted their price target on shares of Robinhood Markets from $110.00 to $146.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 1st. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.94.

Robinhood Markets Price Performance

HOOD opened at $138.96 on Friday. The firm has a market cap of $123.49 billion, a P/E ratio of 70.54, a PEG ratio of 3.86 and a beta of 2.42. Robinhood Markets, Inc. has a 1-year low of $23.00 and a 1-year high of $153.86. The company has a 50 day simple moving average of $118.70 and a two-hundred day simple moving average of $86.09.

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 for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million during 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 company's revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Robinhood Markets Company Profile

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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