Robinhood Markets, Inc. $HOOD Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 81.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,942,533 shares of the company’s stock after purchasing an additional 2,212,487 shares during the period. Invesco Ltd. owned approximately 0.56% of Robinhood Markets worth $462,769,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 1.8% during the second quarter. Vanguard Group Inc. now owns 75,612,131 shares of the company’s stock valued at $7,079,564,000 after acquiring an additional 1,371,051 shares during the period. Geode Capital Management LLC boosted its stake in Robinhood Markets by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,176,539 shares of the company’s stock valued at $1,233,840,000 after purchasing an additional 507,926 shares in the last quarter. WCM Investment Management LLC boosted its stake in Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company’s stock valued at $1,081,910,000 after purchasing an additional 11,244,182 shares in the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the 2nd quarter valued at $973,122,000. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Robinhood Markets in the 2nd quarter worth $951,479,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HOOD. Cantor Fitzgerald raised their price objective on shares of Robinhood Markets from $130.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Bank of America raised their target price on shares of Robinhood Markets from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. KeyCorp upped their price target on Robinhood Markets from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, October 31st. The Goldman Sachs Group raised their price objective on Robinhood Markets from $134.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley lifted their target price on Robinhood Markets from $110.00 to $146.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Robinhood Markets has a consensus rating of “Moderate Buy” and an average target price of $136.95.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $137.08 on Friday. The firm has a market cap of $123.26 billion, a price-to-earnings ratio of 56.88, a P/E/G ratio of 3.00 and a beta of 2.43. The stock has a 50-day simple moving average of $133.09 and a 200-day simple moving average of $108.96. Robinhood Markets, Inc. has a 52-week low of $29.66 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its 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 21.74%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.17 earnings per share. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. As a group, equities research analysts predict that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,864 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $146.91, for a total transaction of $861,480.24. Following the completion of the sale, the chief technology officer owned 6,088 shares in the company, valued at approximately $894,388.08. This represents a 49.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 50,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $121.33, for a total value of $6,066,500.00. Following the transaction, the insider directly owned 480,949 shares in the company, valued at approximately $58,353,542.17. This represents a 9.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,929,294 shares of company stock valued at $502,634,988. Company 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.