Robinhood Markets, Inc. (NASDAQ:HOOD) Shares Acquired by Prudential PLC

Key Points

• Prudential PLC has significantly increased its holdings in Robinhood Markets by 301.9%, bringing its total to 41,696 shares worth approximately $1.74 million as of the end of the first quarter.
• Multiple analysts have raised their price targets for Robinhood Markets, with Piper Sandler setting a new target of $120, indicating strong confidence in the company's future performance.
• Robinhood's stock has seen a substantial rise, trading up 3.1% recently, with a current market cap of $101.46 billion and a reported quarterly revenue of $989 million, which exceeded analysts' expectations.

Prudential PLC boosted its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 301.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,696 shares of the company's stock after buying an additional 31,320 shares during the quarter. Prudential PLC's holdings in Robinhood Markets were worth $1,735,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of HOOD. Vanguard Group Inc. grew 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 valued at $3,089,914,000 after purchasing an additional 5,874,701 shares during the period. AGF Management Ltd. increased its holdings in Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock worth $239,053,000 after acquiring an additional 4,255,862 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 worth $193,202,000 after acquiring an additional 3,994,745 shares in the last quarter. Wealthquest Corp purchased a new stake in Robinhood Markets in the 1st quarter worth approximately $156,193,000. Finally, AQR Capital Management LLC increased 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 worth $195,907,000 after acquiring an additional 3,673,861 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 3.1%

Shares of Robinhood Markets stock traded up $3.46 during trading on Friday, hitting $114.17. 32,125,017 shares of the stock traded hands, compared to its average volume of 42,715,608. The stock's fifty day simple moving average is $95.36 and its 200 day simple moving average is $66.26. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70. The firm has a market cap of $101.46 billion, a P/E ratio of 57.95, a price-to-earnings-growth ratio of 4.35 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $893.93 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm's quarterly revenue was up 45.0% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HOOD. Barclays increased 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. Cantor Fitzgerald raised their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Mizuho raised their price target on Robinhood Markets from $99.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. KeyCorp raised their price target on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group raised their price target on Robinhood Markets from $91.00 to $104.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

Insider Buying and Selling

In other Robinhood Markets news, insider Steven M. Quirk sold 104,887 shares of Robinhood Markets stock in a transaction dated Tuesday, June 3rd. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 225,000 shares of Robinhood Markets stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $99.97, for a total value of $22,493,250.00. Following the completion of the transaction, the insider owned 591,887 shares in the company, valued at $59,170,943.39. This trade represents a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,644,685 shares of company stock worth $430,085,957 over the last ninety days. 14.47% of the stock is currently owned by company insiders.

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.