Robinhood Markets, Inc. (NASDAQ:HOOD) Stock Holdings Lifted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in Robinhood Markets, Inc. (NASDAQ:HOOD) by 1,670.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 919,000 shares of the company’s stock after purchasing an additional 867,100 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.10% of Robinhood Markets worth $20,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth about $33,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Robinhood Markets during the 1st quarter worth about $34,000. International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets during the 2nd quarter worth about $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in Robinhood Markets during the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 139,916 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $19.55, for a total value of $2,735,357.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Baiju Bhatt sold 139,916 shares of Robinhood Markets stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $19.55, for a total value of $2,735,357.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,204,096 shares of company stock valued at $23,603,793. 19.95% of the stock is currently owned by corporate insiders.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $22.73 on Monday. The business has a fifty day simple moving average of $20.59 and a two-hundred day simple moving average of $19.98. Robinhood Markets, Inc. has a 1 year low of $7.91 and a 1 year high of $24.88. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of 151.53 and a beta of 1.82.

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup raised Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price target for the company in a report on Monday, August 5th. KeyCorp increased their price target on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Bank of America increased their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft upgraded Robinhood Markets from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.00 to $24.00 in a research report on Thursday, August 15th. Finally, Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.10.

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.