Prudential PLC Purchases 17,775 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Prudential PLC raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 80.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,782 shares of the company’s stock after acquiring an additional 17,775 shares during the quarter. Prudential PLC’s holdings in Robinhood Markets were worth $903,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HOOD. ORG Partners LLC bought a new position in shares of Robinhood Markets in the second quarter worth about $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets in the first quarter worth about $34,000. International Assets Investment Management LLC bought a new position in shares of Robinhood Markets in the second quarter worth about $40,000. Opal Wealth Advisors LLC bought a new position in shares of Robinhood Markets in the second quarter worth about $45,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on HOOD shares. JPMorgan Chase & Co. raised their price objective on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Morgan Stanley boosted their price target on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Barclays raised Robinhood Markets from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Finally, Citigroup raised Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price target on the stock in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.83.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $21.64 on Friday. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.88. The stock’s 50 day simple moving average is $20.56 and its two-hundred day simple moving average is $19.69. The company has a market cap of $19.02 billion, a price-to-earnings ratio of 144.27 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. As a group, analysts anticipate that Robinhood Markets, Inc. will post 0.76 EPS for the current year.

Insider Activity

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the transaction, the insider now owns 956,247 shares of the company’s stock, valued at approximately $21,802,431.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Robinhood Markets news, CFO Jason Warnick sold 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total value of $524,000.00. Following the transaction, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at approximately $22,577,315.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total value of $285,000.00. Following the completion of the transaction, the insider now directly owns 956,247 shares in the company, valued at approximately $21,802,431.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,325,322 shares of company stock valued at $26,225,912. 19.95% of the stock is currently owned by insiders.

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.