Invesco Ltd. Trims Position in Robinhood Markets, Inc. (NASDAQ:HOOD)

Invesco Ltd. lessened its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,730,046 shares of the company's stock after selling 137,549 shares during the period. Invesco Ltd. owned 0.31% of Robinhood Markets worth $113,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings 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 acquiring an additional 5,874,701 shares during the period. Newlands Management Operations LLC raised its holdings in Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock valued at $900,159,000 after buying an additional 273,860 shares during the period. Two Sigma Advisers LP raised its holdings in Robinhood Markets by 0.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock valued at $398,667,000 after buying an additional 52,700 shares during the period. AQR Capital Management LLC raised its holdings in Robinhood Markets by 231.9% in the 4th quarter. AQR Capital Management LLC now owns 5,257,840 shares of the company's stock valued at $195,907,000 after buying an additional 3,673,861 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after buying an additional 3,994,745 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $110.71 on Friday. Robinhood Markets, Inc. has a one year low of $18.71 and a one year high of $117.70. The company has a market cap of $98.38 billion, a PE ratio of 56.20, a P/E/G ratio of 4.14 and a beta of 2.36. The business has a 50-day simple moving average of $94.57 and a 200-day simple moving average of $65.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.42 EPS for the quarter, topping 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 business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period in the previous year, the company posted $0.21 earnings per share. The business's revenue for the quarter was up 45.0% on a year-over-year basis. On average, sell-side analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HOOD. Redburn Atlantic restated a "sell" rating and issued a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a report on Monday, June 9th. Mizuho boosted their price objective on shares of Robinhood Markets from $99.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Citigroup boosted their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Barclays boosted their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $100.31.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of the company's stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baiju Bhatt sold 1,568,421 shares of the company's stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 4,644,685 shares of company stock valued at $430,085,957. Corporate insiders own 14.47% of the company's stock.

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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