Creative Planning Acquires 15,464 Shares of Robinhood Markets, Inc. (NASDAQ:HOOD)

Creative Planning increased its stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD) by 142.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,290 shares of the company’s stock after buying an additional 15,464 shares during the period. Creative Planning’s holdings in Robinhood Markets were worth $597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in Robinhood Markets during the 2nd quarter worth $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets in the 1st quarter valued at about $34,000. International Assets Investment Management LLC bought a new stake in shares of Robinhood Markets during the second quarter worth approximately $40,000. Opal Wealth Advisors LLC bought a new position in Robinhood Markets in the second quarter valued at approximately $45,000. Finally, PNC Financial Services Group Inc. raised its position 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 valued at $29,000 after acquiring an additional 722 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOOD. Bank of America raised their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 12th. KeyCorp increased their target price on Robinhood Markets from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods reduced their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research note on Wednesday, June 26th. Finally, Morgan Stanley upped their price objective on Robinhood Markets from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.83.

Robinhood Markets Price Performance

Shares of HOOD opened at $26.27 on Monday. The firm has a 50 day simple moving average of $21.08 and a two-hundred day simple moving average of $20.60. Robinhood Markets, Inc. has a one year low of $7.91 and a one year high of $26.65. The company has a market cap of $23.09 billion, a P/E ratio of 175.13 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during 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%. Robinhood Markets’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. On average, analysts expect that Robinhood Markets, Inc. will post 0.76 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,541,250 shares of company stock worth $107,643,767. Corporate insiders own 19.95% of the company’s stock.

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.