AE Wealth Management LLC Acquires 3,162 Shares of Robinhood Markets, Inc. $HOOD

AE Wealth Management LLC increased its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,285 shares of the company’s stock after acquiring an additional 3,162 shares during the period. AE Wealth Management LLC’s holdings in Robinhood Markets were worth $6,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HOOD. HighTower Advisors LLC lifted its stake in Robinhood Markets by 6.4% in the first quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock worth $2,092,000 after purchasing an additional 3,032 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Robinhood Markets by 184.4% in the 1st quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock worth $76,000 after purchasing an additional 1,186 shares during the period. Wellington Management Group LLP grew its stake in Robinhood Markets by 3.1% in the first quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after purchasing an additional 486 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Robinhood Markets by 125.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after purchasing an additional 10,703 shares in the last quarter. Finally, Metavasi Capital LP increased its holdings in shares of Robinhood Markets by 275.0% during the first quarter. Metavasi Capital LP now owns 75,000 shares of the company’s stock valued at $3,122,000 after acquiring an additional 55,000 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Robinhood Markets

In other news, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the sale, the insider directly owned 94,454 shares of the company’s stock, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $148.34, for a total transaction of $3,708,500.00. Following the sale, the insider owned 565,949 shares in the company, valued at approximately $83,952,874.66. This trade represents a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,385,742 shares of company stock worth $403,923,453. Corporate insiders own 19.95% of the company’s stock.

Wall Street Analysts Forecast Growth

HOOD has been the topic of several research analyst reports. Mizuho upped their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the company an “outperform” rating in a research note on Thursday. Needham & Company LLC raised their price objective on Robinhood Markets from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Barclays boosted their price objective on Robinhood Markets from $162.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday. Zacks Research lowered Robinhood Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $140.00 price target (up previously from $120.00) on shares of Robinhood Markets in a research report on Tuesday, September 23rd. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.65.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $130.36 on Monday. Robinhood Markets, Inc. has a 1 year low of $29.21 and a 1 year high of $153.86. The company has a market capitalization of $115.85 billion, a PE ratio of 54.09, a price-to-earnings-growth ratio of 3.05 and a beta of 2.42. The company’s fifty day moving average price is $130.11 and its 200 day moving average price is $100.33.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.41 by $0.20. Robinhood Markets had a net margin of 52.19% and a return on equity of 22.13%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm’s revenue was up 100.0% compared to the same quarter last year. On average, equities analysts expect that Robinhood Markets, Inc. will post 1.35 EPS for the current 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.