Northwest & Ethical Investments L.P. Increases Holdings in Robinhood Markets, Inc. $HOOD

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in Robinhood Markets by 89.7% in Q1, reaching a total of 21,059 shares valued at approximately $875,000.
• Several analysts have raised their target prices for Robinhood Markets, with Cantor Fitzgerald increasing their target from $100 to $118 and JMP Securities raising theirs from $125 to $130.
• Insider sales have been significant, with insider Daniel Martin Gallagher, Jr. selling 225,000 shares for a total of approximately $22.5 million in early August.

Northwest & Ethical Investments L.P. lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 89.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,059 shares of the company's stock after purchasing an additional 9,959 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Robinhood Markets were worth $875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HOOD. GeoWealth Management LLC purchased a new position in shares of Robinhood Markets in the 4th quarter worth approximately $53,000. First Trust Advisors LP boosted its holdings in shares of Robinhood Markets by 35.9% in the 4th quarter. First Trust Advisors LP now owns 964,836 shares of the company's stock worth $35,950,000 after purchasing an additional 254,817 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Robinhood Markets by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,806 shares of the company's stock worth $440,000 after purchasing an additional 171 shares during the period. MML Investors Services LLC boosted its holdings in shares of Robinhood Markets by 4.3% in the 4th quarter. MML Investors Services LLC now owns 54,052 shares of the company's stock worth $2,014,000 after purchasing an additional 2,213 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Robinhood Markets by 218.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 28,141 shares of the company's stock valued at $1,049,000 after acquiring an additional 19,294 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

Robinhood Markets Trading Up 2.8%

HOOD traded up $3.02 during trading on Friday, hitting $109.32. The company's stock had a trading volume of 39,820,141 shares, compared to its average volume of 41,865,128. Robinhood Markets, Inc. has a twelve month low of $18.71 and a twelve month high of $117.70. The business's fifty day simple moving average is $98.88 and its 200 day simple moving average is $68.10. The firm has a market capitalization of $97.15 billion, a price-to-earnings ratio of 55.49, a P/E/G ratio of 3.90 and a beta of 2.36.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued 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 firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The business's revenue was up 45.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. As a group, equities research analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HOOD shares. Citigroup boosted their price objective on Robinhood Markets from $100.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Morgan Stanley increased their price target on Robinhood Markets from $43.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Piper Sandler upped their price objective on Robinhood Markets from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods increased their price target on Robinhood Markets from $89.00 to $106.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC increased their price target on Robinhood Markets from $71.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Eleven equities 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.31.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 385,485 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $101.90, for a total value of $39,280,921.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 40,131 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $104.71, for a total value of $4,202,117.01. Following the completion of the sale, the insider directly owned 120,408 shares in the company, valued at $12,607,921.68. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,644,685 shares of company stock valued at $448,881,884. 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.