American Century Companies Inc. Raises Stock Position in Robinhood Markets, Inc. $HOOD

Key Points

• American Century Companies Inc. increased its stake in Robinhood Markets by 18.8%, owning over 108,000 shares valued at approximately $4.5 million as of the latest SEC filing.
• Many institutional investors, including HighTower Advisors LLC and TD Private Client Wealth LLC, have significantly increased their investments in Robinhood Markets during the first quarter.
• Analysts have issued new price targets for Robinhood shares, with ratings ranging from Buy to Overweight and a current consensus target price of approximately $100.31.

American Century Companies Inc. grew its holdings in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 18.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,053 shares of the company's stock after buying an additional 17,131 shares during the quarter. American Century Companies Inc.'s holdings in Robinhood Markets were worth $4,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its position in Robinhood Markets by 564.4% in the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock worth $25,000 after purchasing an additional 508 shares during the period. Hemington Wealth Management raised its position in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares during the period. Wayfinding Financial LLC purchased a new stake in Robinhood Markets in the 1st quarter worth about $30,000. Pandora Wealth Inc. purchased a new stake in Robinhood Markets in the 1st quarter worth about $33,000. Finally, CoreCap Advisors LLC raised its position in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Trading Up 0.3%

Shares of NASDAQ HOOD traded up $0.34 during midday trading on Monday, reaching $104.03. The company had a trading volume of 22,092,111 shares, compared to its average volume of 37,341,716. The business's 50-day simple moving average is $101.69 and its 200 day simple moving average is $70.00. The stock has a market cap of $92.45 billion, a P/E ratio of 52.81, a P/E/G ratio of 3.81 and a beta of 2.36. Robinhood Markets, Inc. has a 1 year low of $18.71 and a 1 year high of $117.70.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The business had revenue of $989.00 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.21 earnings per share. Analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $93.27, for a total value of $69,952,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven M. Quirk sold 104,887 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.14, for a total transaction of $7,356,774.18. Following the completion of the transaction, the insider directly owned 228,621 shares of the company's stock, valued at approximately $16,035,476.94. This represents a 31.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,818,493 shares of company stock valued at $570,818,204. Corporate insiders own 19.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Cantor Fitzgerald raised their target price on shares of Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Barclays raised their target price on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC raised their target price on shares of Robinhood Markets from $71.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Compass Point increased their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.31.

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.