Estate Counselors LLC Takes Position in Robinhood Markets, Inc. $HOOD

Key Points

• Estate Counselors LLC acquired a new stake in Robinhood Markets, purchasing 71,347 shares valued at approximately $2,969,000 during the first quarter.
• Several large investors have also significantly increased their holdings in Robinhood, with institutional investors owning 93.27% of the company's stock.
• Robinhood posted a strong earnings report, with $0.42 EPS exceeding the consensus estimate of $0.30, and revenue of \strong>$989 million, up 45% year-over-year.

Estate Counselors LLC bought a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 71,347 shares of the company's stock, valued at approximately $2,969,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after purchasing an additional 5,874,701 shares in the last quarter. AGF Management Ltd. increased its stake in shares of Robinhood Markets by 286.0% during the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock worth $193,202,000 after purchasing an additional 3,994,745 shares in the last quarter. Wealthquest Corp purchased a new position in shares of Robinhood Markets during the 1st quarter worth approximately $156,193,000. Finally, AQR Capital Management LLC increased its stake in shares of Robinhood Markets by 231.9% during the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock worth $195,907,000 after purchasing an additional 3,673,861 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HOOD shares. Redburn Atlantic reissued a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Needham & Company LLC raised their price objective on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Mizuho lifted their target price on shares of Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, KeyCorp lifted their target price on shares of Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $3.02 during midday trading on Friday, hitting $109.32. 39,820,141 shares of the company's stock traded hands, compared to its average volume of 41,865,128. The company has a market cap of $97.15 billion, a PE ratio of 55.49, a P/E/G ratio of 3.90 and a beta of 2.36. The firm's fifty day moving average price is $98.88 and its two-hundred day moving average price is $68.10. Robinhood Markets, Inc. has a twelve month low of $18.71 and a twelve month high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its 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. The business 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 business's quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. As a group, equities research analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $70.14, for a total value of $7,356,774.18. Following the transaction, the insider owned 228,621 shares in the company, valued at $16,035,476.94. The trade was a 31.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the company's stock in a transaction dated 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 90 days, insiders have sold 4,644,685 shares of company stock worth $448,881,884. 14.47% of the stock is owned by corporate insiders.

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.