Plato Investment Management Ltd Has $295,000 Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Plato Investment Management Ltd has reduced its holdings in Robinhood Markets by 60.3%, now owning 7,007 shares worth approximately $295,000.
• Other significant investors have increased their stakes, with Vanguard Group Inc. boosting its holdings by 8.6% to over $3 billion and AGF Management Ltd. raising theirs by 286.0%.
• Analysts have set new price targets for Robinhood, with Barclays raising its target from $102 to $120, reflecting positive sentiment despite a recent "sell" rating from Redburn Atlantic.

Plato Investment Management Ltd cut its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 60.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,007 shares of the company's stock after selling 10,665 shares during the quarter. Plato Investment Management Ltd's holdings in Robinhood Markets were worth $295,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HOOD. Vanguard Group Inc. lifted its holdings in shares of Robinhood Markets by 8.6% during the first quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock worth $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. AGF Management Ltd. raised its stake in shares of Robinhood Markets by 286.0% in the first quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after purchasing an additional 4,255,862 shares in the last quarter. Wealthquest Corp acquired a new position in shares of Robinhood Markets in the first quarter valued at $156,193,000. Southpoint Capital Advisors LP acquired a new position in shares of Robinhood Markets in the fourth quarter valued at $130,410,000. Finally, Polar Capital Holdings Plc acquired a new position in shares of Robinhood Markets in the fourth quarter valued at $125,252,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,865 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $99.83, for a total value of $585,502.95. Following the completion of the sale, the chief technology officer directly owned 23,680 shares in the company, valued at approximately $2,363,974.40. This trade represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $109.39, for a total value of $45,761,993.82. The disclosure for this sale can be found here. Insiders sold a total of 5,355,381 shares of company stock valued at $539,335,586 in the last 90 days. 14.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HOOD has been the subject of a number of recent research reports. Redburn Atlantic restated a "sell" rating and issued a $48.00 target price (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. JMP Securities upped their target price on Robinhood Markets from $125.00 to $130.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. KeyCorp upped their target price on Robinhood Markets from $60.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays upped their target price on Robinhood Markets from $102.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Robinhood Markets from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.88.

Robinhood Markets Price Performance

Robinhood Markets stock opened at $117.75 on Friday. The stock has a fifty day moving average price of $105.58 and a two-hundred day moving average price of $72.98. Robinhood Markets, Inc. has a 52-week low of $20.67 and a 52-week high of $123.44. The firm has a market capitalization of $104.64 billion, a P/E ratio of 59.77, a P/E/G ratio of 4.30 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share 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 company had revenue of $989.00 million during the quarter, compared to analyst estimates of $893.93 million. During the same period last year, the company posted $0.21 earnings per share. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. On average, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 EPS for the current fiscal year.

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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