ABN Amro Investment Solutions Makes New $1.35 Million Investment in Robinhood Markets, Inc. $HOOD

ABN Amro Investment Solutions purchased a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 14,377 shares of the company’s stock, valued at approximately $1,346,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Robinhood Markets by 30.0% during the first quarter. Envestnet Asset Management Inc. now owns 328,511 shares of the company’s stock worth $13,673,000 after buying an additional 75,745 shares in the last quarter. Allworth Financial LP boosted its position in shares of Robinhood Markets by 23.4% during the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company’s stock valued at $58,000 after acquiring an additional 266 shares during the last quarter. Stephens Inc. AR purchased a new position in shares of Robinhood Markets during the first quarter worth about $243,000. Dakota Wealth Management purchased a new position in shares of Robinhood Markets during the first quarter worth about $501,000. Finally, Wealthfront Advisers LLC increased its position in shares of Robinhood Markets by 213.2% in the first quarter. Wealthfront Advisers LLC now owns 132,162 shares of the company’s stock worth $5,501,000 after purchasing an additional 89,971 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

HOOD has been the subject of several research analyst reports. Morgan Stanley lifted their target price on shares of Robinhood Markets from $110.00 to $146.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Loop Capital set a $161.00 price objective on shares of Robinhood Markets in a research report on Monday, October 27th. KeyCorp lifted their price objective on shares of Robinhood Markets from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Mizuho upped their target price on shares of Robinhood Markets from $145.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, JMP Securities increased their target price on Robinhood Markets from $130.00 to $170.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.65.

Insider Buying and Selling at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $148.34, for a total value of $3,708,500.00. Following the transaction, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total transaction of $104,797,500.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,297,404 shares of company stock worth $529,026,559 over the last quarter. Company insiders own 14.47% of the company’s stock.

Robinhood Markets Stock Up 0.8%

Shares of NASDAQ:HOOD opened at $122.50 on Friday. The stock has a market cap of $110.15 billion, a PE ratio of 50.83, a PEG ratio of 2.78 and a beta of 2.42. The company’s fifty day moving average is $132.81 and its 200 day moving average is $102.40. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20. Robinhood Markets had a return on equity of 21.74% and a net margin of 52.19%.The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. Sell-side analysts anticipate that Robinhood Markets, Inc. will post 1.35 EPS for the current year.

Robinhood Markets 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.