MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 19,347 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Robinhood Markets by 15.1%, acquiring an additional 19,347 shares during the first quarter, bringing its total holdings to 147,844 shares valued at $6,153,000.
• Several institutional investors have significantly raised their stakes in Robinhood, with Whipplewood Advisors increasing theirs by 564.4% during the same period.
• Analysts have revised their price targets for Robinhood Markets, with some firms setting targets as high as $120.00, indicating strong consensus for the stock's potential growth.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,844 shares of the company's stock after buying an additional 19,347 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Robinhood Markets were worth $6,153,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Robinhood Markets by 8.6% in the first 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 during the period. Newlands Management Operations LLC grew its holdings in Robinhood Markets by 1.1% in the fourth quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company's stock worth $900,159,000 after purchasing an additional 273,860 shares during the period. Two Sigma Advisers LP grew its holdings in Robinhood Markets by 0.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,699,600 shares of the company's stock worth $398,667,000 after purchasing an additional 52,700 shares during the period. AGF Management Ltd. grew its holdings in shares of Robinhood Markets by 286.0% during the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Robinhood Markets by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,851,352 shares of the company's stock valued at $201,913,000 after buying an additional 131,620 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Robinhood Markets news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of Robinhood Markets stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $99.83, for a total value of $585,502.95. Following the sale, the chief technology officer owned 23,680 shares of the company's stock, valued at approximately $2,363,974.40. The trade was a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $100.92, for a total transaction of $2,523,000.00. Following the completion of the sale, the insider directly owned 610,949 shares in the company, valued at approximately $61,656,973.08. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,773,719 shares of company stock valued at $589,293,510. Company insiders own 14.47% of the company's stock.

Robinhood Markets Stock Performance

HOOD stock traded down $2.72 during mid-day trading on Friday, hitting $115.03. The company had a trading volume of 37,143,390 shares, compared to its average volume of 39,213,336. The firm has a market cap of $102.22 billion, a PE ratio of 58.39, a price-to-earnings-growth ratio of 4.32 and a beta of 2.36. Robinhood Markets, Inc. has a 12 month low of $21.50 and a 12 month high of $123.44. The stock's fifty day moving average price is $105.99 and its two-hundred day moving average price is $73.46.

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 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 company's revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HOOD. Morgan Stanley lifted their price objective on shares of Robinhood Markets from $43.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Piper Sandler began coverage on shares of Robinhood Markets in a report on Wednesday. They set an "overweight" rating and a $120.00 price objective for the company. KeyCorp lifted their price objective on shares of Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Cantor Fitzgerald raised their price target on shares of Robinhood Markets from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, 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.